Cornerstone Capital Inc. Has $18.70 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cornerstone Capital Inc. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 16.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 315,844 shares of the network equipment provider’s stock after selling 62,550 shares during the period. Cisco Systems comprises 2.0% of Cornerstone Capital Inc.’s portfolio, making the stock its 18th largest holding. Cornerstone Capital Inc.’s holdings in Cisco Systems were worth $18,698,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CSCO. Dimensional Fund Advisors LP raised its holdings in Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock worth $1,741,597,000 after purchasing an additional 681,555 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in shares of Cisco Systems by 2.9% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,265,400 shares of the network equipment provider’s stock worth $134,112,000 after purchasing an additional 64,165 shares in the last quarter. Forum Financial Management LP raised its stake in shares of Cisco Systems by 29.5% during the 4th quarter. Forum Financial Management LP now owns 41,168 shares of the network equipment provider’s stock worth $2,437,000 after purchasing an additional 9,380 shares in the last quarter. GeoWealth Management LLC grew its holdings in Cisco Systems by 9.7% during the fourth quarter. GeoWealth Management LLC now owns 30,783 shares of the network equipment provider’s stock worth $1,822,000 after purchasing an additional 2,715 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Cisco Systems by 6.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,683,541 shares of the network equipment provider’s stock valued at $395,269,000 after purchasing an additional 382,804 shares during the period. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CSCO shares. Piper Sandler decreased their price target on shares of Cisco Systems from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price target on Cisco Systems from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $65.58.

Cisco Systems Trading Down 0.1 %

NASDAQ CSCO opened at $55.73 on Friday. 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 business has a fifty day simple moving average of $60.69 and a 200 day simple moving average of $59.08. The firm has a market capitalization of $221.69 billion, a P/E ratio of 24.33, a PEG ratio of 4.16 and a beta of 0.86.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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 return on equity of 26.08% and a net margin of 16.96%. On average, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.94%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s payout ratio is currently 71.62%.

Cisco Systems announced that its board has authorized 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 buy up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction 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 approximately $11,604,868.80. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock worth $4,275,553 over the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems 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.