Quintet Private Bank Europe S.A. Has $37.09 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Quintet Private Bank Europe S.A. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 626,528 shares of the network equipment provider’s stock after selling 9,139 shares during the period. Cisco Systems makes up about 2.0% of Quintet Private Bank Europe S.A.’s portfolio, making the stock its 15th biggest holding. Quintet Private Bank Europe S.A.’s holdings in Cisco Systems were worth $37,090,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its position 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 acquiring an additional 3,241,682 shares during the period. Geode Capital Management LLC lifted its position in shares of Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after acquiring an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Cisco Systems by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after acquiring an additional 1,677,383 shares during the period. FMR LLC lifted its position 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 acquiring an additional 5,885,879 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of Cisco Systems by 1.2% during the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock valued at $1,107,930,000 after acquiring an additional 216,632 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,848 shares of company stock valued at $4,767,206. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of recent analyst reports. StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Morgan Stanley upped their target price on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler upped their target price on Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Bank of America upped their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company upped their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems Price Performance

Shares of CSCO opened at $64.14 on Monday. The stock has a market cap of $255.15 billion, a PE ratio of 28.01, a PEG ratio of 4.16 and a beta of 0.84. The business has a 50-day simple moving average of $61.23 and a two-hundred day simple moving average of $56.95. 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 12-month low of $44.50 and a 12-month high of $66.50.

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

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

Cisco Systems Increases Dividend

The business 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 $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. Cisco Systems’s dividend payout ratio is presently 71.62%.

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.