Zurcher Kantonalbank Zurich Cantonalbank Sells 812,953 Shares of Cisco Systems, Inc. $CSCO

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 29.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,969,778 shares of the network equipment provider’s stock after selling 812,953 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cisco Systems were worth $151,732,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cisco Systems by 6.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider’s stock worth $218,236,000 after buying an additional 205,043 shares during the last quarter. Greystone Financial Group LLC acquired a new stake in shares of Cisco Systems in the third quarter worth $8,563,000. Jones Financial Companies Lllp grew its stake in shares of Cisco Systems by 8.9% in the third quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock worth $46,165,000 after acquiring an additional 56,057 shares during the last quarter. Rockland Trust Co. increased its position in Cisco Systems by 213.8% during the third quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock worth $1,402,000 after acquiring an additional 13,966 shares during the period. Finally, CX Institutional raised its stake in Cisco Systems by 11.0% during the 3rd quarter. CX Institutional now owns 144,336 shares of the network equipment provider’s stock valued at $9,875,000 after purchasing an additional 14,334 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Cisco Systems stock opened at $86.25 on Monday. The firm has a market capitalization of $340.68 billion, a P/E ratio of 30.26, a P/E/G ratio of 3.25 and a beta of 0.83. The stock has a fifty day moving average price of $79.86 and a two-hundred day moving average price of $76.78. Cisco Systems, Inc. has a 52-week low of $53.83 and a 52-week high of $88.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The company had revenue of $15.35 billion for the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter in the previous year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 58.95%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CSCO shares. President Capital reduced their price target on shares of Cisco Systems from $90.00 to $88.00 in a report on Wednesday, December 24th. BNP Paribas Exane boosted their price objective on shares of Cisco Systems from $86.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of Cisco Systems in a research note on Thursday, February 12th. Argus raised Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. Finally, UBS Group boosted their price target on Cisco Systems from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $89.81.

Insider Activity

In other news, CEO Charles Robbins sold 19,545 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $1,485,420.00. Following the transaction, the chief executive officer directly owned 671,095 shares of the company’s stock, valued at $51,003,220. The trade was a 2.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $79.50, for a total value of $634,489.50. Following the sale, the executive vice president owned 187,097 shares in the company, valued at approximately $14,874,211.50. This trade represents a 4.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 46,431 shares of company stock valued at $3,574,820. Corporate insiders own 0.01% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.