Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Rheos Capital Works Inc.

Rheos Capital Works Inc. reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 27.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 325,000 shares of the network equipment provider’s stock after selling 120,000 shares during the quarter. Cisco Systems makes up 1.6% of Rheos Capital Works Inc.’s investment portfolio, making the stock its 23rd largest position. Rheos Capital Works Inc.’s holdings in Cisco Systems were worth $20,056,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSCO. Glass Jacobson Investment Advisors llc increased its position in shares of Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock worth $123,000 after purchasing an additional 166 shares in the last quarter. Fairhaven Wealth Management LLC boosted its stake in shares of Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after acquiring an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC increased its holdings in Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after acquiring an additional 168 shares in the last quarter. Legacy Financial Group Inc. raised its holdings in shares of Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after acquiring an additional 169 shares during the last quarter. Finally, Maple Capital Management Inc. raised its position in shares of Cisco Systems by 1.4% in the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock valued at $709,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $66.06 on Monday. The company has a market cap of $261.60 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The business has a 50 day moving average price of $59.61 and a 200-day moving average price of $60.38.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is 66.94%.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at $2,693,013.45. The trade was a 1.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,400 shares of company stock worth $4,564,439. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $72.00 to $75.00 in a report on Thursday, May 15th. The Goldman Sachs Group lifted their target price on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Citigroup raised their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Finally, Evercore ISI lifted their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.00.

Cisco Systems Company 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.