Concurrent Investment Advisors LLC Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Concurrent Investment Advisors LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,386 shares of the network equipment provider’s stock after selling 31,213 shares during the period. Concurrent Investment Advisors LLC’s holdings in Cisco Systems were worth $11,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. FMR LLC boosted its holdings in shares of Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Cisco Systems by 327.5% during the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after purchasing an additional 5,223,800 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after purchasing an additional 4,842,542 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Cisco Systems by 79.6% during the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after purchasing an additional 3,975,028 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CSCO. Piper Sandler increased their price objective on shares of Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Bank of America increased their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Barclays increased their price target on shares of Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $66.53.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the transaction, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the sale, the senior vice president now owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,921 shares of company stock worth $4,298,667 over the last three months. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Up 0.4 %

Shares of NASDAQ CSCO opened at $64.84 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company has a market cap of $258.24 billion, a P/E ratio of 28.31, a PEG ratio of 4.55 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The firm has a 50-day simple moving average of $60.43 and a two-hundred day simple moving average of $55.95.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (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%. Research analysts anticipate that Cisco Systems, Inc. will post 3.01 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 23rd. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.53%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 69.87%.

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

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.