Northcape Wealth Management LLC Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Northcape Wealth Management LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,921 shares of the network equipment provider’s stock after selling 2,211 shares during the quarter. Cisco Systems accounts for 1.1% of Northcape Wealth Management LLC’s investment portfolio, making the stock its 26th biggest holding. Northcape Wealth Management LLC’s holdings in Cisco Systems were worth $3,078,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. California Public Employees Retirement System raised its stake in shares of Cisco Systems by 25.0% during the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after buying an additional 3,753,165 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the 3rd quarter worth $179,207,000. Capital Wealth Planning LLC increased its holdings in shares of Cisco Systems by 7,074.3% in the 3rd quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock valued at $175,883,000 after purchasing an additional 3,226,040 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Cisco Systems by 32.7% in the fourth quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock valued at $391,498,000 after purchasing an additional 1,909,597 shares during the period. Finally, Northern Trust Corp grew its position in Cisco Systems by 3.8% during the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after buying an additional 1,847,682 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Down 1.7 %

CSCO traded down $0.80 on Tuesday, reaching $46.98. 18,531,437 shares of the company’s stock were exchanged, compared to its average volume of 19,243,893. The company has a market cap of $190.23 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 2.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The company’s 50 day moving average is $48.92 and its 200-day moving average is $49.97.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $12.71 billion. During the same quarter last year, the firm posted $0.76 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. Equities analysts predict that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were given a $0.40 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.41%. Cisco Systems’s dividend payout ratio (DPR) is 48.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Piper Sandler raised their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Finally, StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and an average price target of $55.53.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,441 shares of company stock valued at $972,080. Corporate insiders own 0.02% of the company’s stock.

About Cisco Systems

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.