Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Gen Wealth Partners Inc

Gen Wealth Partners Inc reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 24,375 shares of the network equipment provider’s stock after selling 254 shares during the quarter. Gen Wealth Partners Inc’s holdings in Cisco Systems were worth $1,443,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares during the last quarter. Norges Bank acquired a new position in shares of Cisco Systems during the 4th quarter worth $3,297,905,000. Northern Trust Corp boosted its position in shares of Cisco Systems by 11.4% in the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock worth $2,796,505,000 after buying an additional 4,832,813 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Cisco Systems by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock valued at $1,741,597,000 after acquiring an additional 681,555 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Cisco Systems by 12.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,161,261 shares of the network equipment provider’s stock valued at $1,015,948,000 after acquiring an additional 1,943,563 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSCO has been the topic of several research reports. Evercore ISI lowered their price target on shares of Cisco Systems from $75.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. Piper Sandler cut their price target on Cisco Systems from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.05.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now owns 191,184 shares of the company’s stock, valued at $11,604,868.80. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,547 shares of company stock valued at $4,275,553. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 0.1 %

Shares of NASDAQ:CSCO opened at $59.77 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock has a 50-day simple moving average of $58.78 and a 200-day simple moving average of $59.43. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a market capitalization of $237.78 billion, a P/E ratio of 26.10, a PEG ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were issued a dividend of $0.41 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.