PDS Planning Inc Sells 1,631 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

PDS Planning Inc lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,527 shares of the network equipment provider’s stock after selling 1,631 shares during the period. PDS Planning Inc’s holdings in Cisco Systems were worth $1,088,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CSCO. California Public Employees Retirement System increased its position in shares of Cisco Systems by 25.0% during the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after purchasing an additional 3,753,165 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Cisco Systems in the 3rd quarter worth approximately $179,207,000. Capital Wealth Planning LLC raised its position in shares of Cisco Systems by 7,074.3% during the 3rd quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock valued at $175,883,000 after buying an additional 3,226,040 shares during the period. Pacer Advisors Inc. grew its stake in shares of Cisco Systems by 32.7% in the fourth quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock worth $391,498,000 after acquiring an additional 1,909,597 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of 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 purchasing an additional 1,847,682 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. UBS Group upped their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Melius downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average price target of $55.53.

Cisco Systems Stock Down 0.4 %

CSCO stock traded down $0.18 during mid-day trading on Monday, hitting $48.14. 20,131,136 shares of the company were exchanged, compared to its average volume of 19,517,379. The firm has a fifty day simple moving average of $49.07 and a 200 day simple moving average of $50.20. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The company has a market capitalization of $194.93 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 2.77 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.76 EPS. On average, research analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s payout ratio is presently 48.63%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is owned by insiders.

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.