Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Manning & Napier Group LLC

Manning & Napier Group LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 836,580 shares of the network equipment provider’s stock after selling 113,273 shares during the quarter. Manning & Napier Group LLC’s holdings in Cisco Systems were worth $42,264,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. Kathleen S. Wright Associates Inc. acquired a new position in Cisco Systems during the third quarter worth approximately $27,000. Valued Wealth Advisors LLC purchased a new stake in Cisco Systems during the fourth quarter worth $32,000. Fortis Capital Advisors LLC purchased a new stake in Cisco Systems during the fourth quarter worth $34,000. Hibernia Wealth Partners LLC purchased a new stake in shares of Cisco Systems in the third quarter valued at $42,000. Finally, VitalStone Financial LLC purchased a new stake in shares of Cisco Systems in the second quarter valued at $45,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.3 %

Shares of Cisco Systems stock traded up $0.14 on Friday, hitting $49.91. The company had a trading volume of 18,139,735 shares, compared to its average volume of 20,822,376. The firm has a market capitalization of $202.10 billion, a P/E ratio of 15.17, a P/E/G ratio of 2.25 and a beta of 0.87. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The stock has a 50-day moving average of $49.75 and a 200-day moving average of $50.92.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. Research analysts predict that Cisco Systems, Inc. will post 3.16 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.21%. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is 47.42%.

Insider Activity

In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock valued at $972,080 over the last ninety days. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CSCO has been the topic of several recent analyst reports. Wells Fargo & Company initiated coverage on Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price on the stock. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. UBS Group raised their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Barclays increased their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, Piper Sandler increased their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average target price of $56.42.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.