Sage Mountain Advisors LLC Sells 2,003 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sage Mountain Advisors LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,973 shares of the network equipment provider’s stock after selling 2,003 shares during the period. Sage Mountain Advisors LLC’s holdings in Cisco Systems were worth $1,413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC boosted its position in shares of Cisco Systems by 3.2% during the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after purchasing an additional 1,790,717 shares in the last quarter. Northern Trust Corp raised its stake in Cisco Systems by 3.8% during the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after buying an additional 1,847,682 shares during the period. Invesco Ltd. raised its stake in Cisco Systems by 3.7% during the 3rd quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock worth $1,802,909,000 after buying an additional 1,181,327 shares during the period. California Public Employees Retirement System raised its stake in Cisco Systems by 1.2% during the 3rd quarter. California Public Employees Retirement System now owns 14,997,072 shares of the network equipment provider’s stock worth $806,243,000 after buying an additional 177,107 shares during the period. Finally, AQR Capital Management LLC raised its stake in Cisco Systems by 3.7% during the 3rd quarter. AQR Capital Management LLC now owns 11,376,937 shares of the network equipment provider’s stock worth $611,624,000 after buying an additional 405,699 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock traded up $0.15 during trading on Monday, hitting $48.47. The company’s stock had a trading volume of 8,226,051 shares, compared to its average volume of 19,361,963. The company has a market cap of $196.26 billion, a PE ratio of 14.69, a P/E/G ratio of 2.77 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average of $49.07 and a 200-day moving average of $50.20. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. During the same period in the prior year, the company earned $0.76 earnings per share. Cisco Systems’s revenue was down 5.9% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.30%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is 48.63%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,441 shares of company stock valued at $972,080. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CSCO. Wells Fargo & Company began coverage on Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target on the stock. Melius Research reaffirmed a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research note on Monday, January 8th. Citigroup began coverage on Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 price target on the stock. Piper Sandler upped their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Hold” and a consensus price target of $55.53.

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.