Capital Investment Counsel Inc Sells 1,880 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Capital Investment Counsel Inc lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 234,698 shares of the network equipment provider’s stock after selling 1,880 shares during the period. Cisco Systems comprises about 2.1% of Capital Investment Counsel Inc’s holdings, making the stock its 10th largest position. Capital Investment Counsel Inc’s holdings in Cisco Systems were worth $11,857,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. California Public Employees Retirement System grew its position in Cisco Systems by 25.0% in the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after buying an additional 3,753,165 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Cisco Systems during the 3rd quarter worth approximately $179,207,000. Capital Wealth Planning LLC lifted its holdings in shares of Cisco Systems by 7,074.3% in 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. boosted 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 valued at $391,498,000 after buying an additional 1,909,597 shares in the last quarter. Finally, Northern Trust Corp raised its position in Cisco Systems by 3.8% in the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after acquiring an additional 1,847,682 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CSCO. Morgan Stanley started coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. UBS Group lifted 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. Piper Sandler lifted their price objective on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Finally, Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus target price of $55.53.

Cisco Systems Trading Up 0.4 %

CSCO traded up $0.18 during trading on Monday, hitting $48.04. 1,452,353 shares of the company’s stock were exchanged, compared to its average volume of 19,128,818. The stock has a 50 day moving average price of $48.94 and a 200 day moving average price of $50.01. Cisco Systems, Inc. has a 1 year low of $45.56 and a 1 year high of $58.19. 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 firm has a market cap of $194.52 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 2.76 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 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 analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

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

Insider Activity at Cisco Systems

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

Cisco Systems Company 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.