Nomura Asset Management Co. Ltd. Sells 74,770 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Nomura Asset Management Co. Ltd. lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,509,062 shares of the network equipment provider’s stock after selling 74,770 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.06% of Cisco Systems worth $148,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems in the 4th quarter valued at $30,000. Campbell Capital Management Inc. acquired a new stake in Cisco Systems during the 4th quarter valued at $31,000. Highline Wealth Partners LLC increased its holdings in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. Finally, Synergy Investment Management LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at $36,000. 73.33% of the stock is owned by institutional investors.

Insider Activity

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 sale, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $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 three months, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Down 0.6 %

Shares of NASDAQ CSCO opened at $61.40 on Friday. The stock has a 50-day moving average price of $62.10 and a two-hundred day moving average price of $58.38. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market cap of $244.27 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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%. As a group, analysts forecast 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 authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.67%. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Analyst Ratings Changes

Several analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler restated a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

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.