Main Street Research LLC Has $570,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Main Street Research LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% in the fourth quarter, Holdings Channel reports. The firm owned 11,281 shares of the network equipment provider’s stock after selling 383 shares during the quarter. Main Street Research LLC’s holdings in Cisco Systems were worth $570,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CSCO. United Bank bought a new position in Cisco Systems during the first quarter worth about $645,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Cisco Systems by 32.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock worth $236,593,000 after acquiring an additional 1,040,607 shares in the last quarter. Roundview Capital LLC lifted its holdings in Cisco Systems by 13.1% during the first quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock worth $588,000 after acquiring an additional 1,221 shares in the last quarter. Merit Financial Group LLC lifted its holdings in Cisco Systems by 21.5% during the first quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock worth $656,000 after acquiring an additional 2,079 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Cisco Systems by 8.1% during the first quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock worth $135,470,000 after acquiring an additional 182,857 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company assumed coverage on Cisco Systems in a report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price on the stock. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Piper Sandler boosted their price target on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Morgan Stanley began coverage on Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target on the stock. Finally, UBS Group boosted their price target on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average target price of $56.03.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is owned by insiders.

Cisco Systems Stock Performance

NASDAQ CSCO traded down $0.13 during trading on Tuesday, reaching $48.11. 6,453,327 shares of the company’s stock were exchanged, compared to its average volume of 19,537,123. The business has a 50 day moving average price of $49.22 and a 200-day moving average price of $50.37. The stock has a market capitalization of $194.81 billion, a P/E ratio of 14.70, a PEG ratio of 2.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 earnings per share. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.15 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be given a $0.40 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.33%. Cisco Systems’s dividend payout ratio is presently 48.63%.

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.