Blueshift Asset Management LLC Boosts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Blueshift Asset Management LLC increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 76.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,860 shares of the network equipment provider’s stock after purchasing an additional 4,276 shares during the period. Blueshift Asset Management LLC’s holdings in Cisco Systems were worth $498,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Hyman Charles D lifted its holdings in Cisco Systems by 0.3% in the fourth quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock valued at $3,573,000 after acquiring an additional 203 shares during the period. Madrona Financial Services LLC raised its stake in shares of Cisco Systems by 2.4% during the 4th quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock worth $453,000 after buying an additional 207 shares during the last quarter. Morton Brown Family Wealth LLC raised its stake in shares of Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares during the last quarter. River Street Advisors LLC raised its stake in shares of Cisco Systems by 1.7% during the 4th quarter. River Street Advisors LLC now owns 12,921 shares of the network equipment provider’s stock worth $653,000 after buying an additional 219 shares during the last quarter. Finally, Patron Partners LLC raised its stake in shares of Cisco Systems by 1.5% during the 4th quarter. Patron Partners LLC now owns 14,890 shares of the network equipment provider’s stock worth $752,000 after buying an additional 222 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the transaction, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The disclosure for this sale can be found here. Insiders have sold a total of 57,166 shares of company stock valued at $2,727,647 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 1.7 %

Shares of NASDAQ:CSCO traded up $0.77 during trading on Tuesday, reaching $47.42. 23,306,037 shares of the stock were exchanged, compared to its average volume of 19,579,430. The firm’s 50-day moving average price is $47.97 and its 200 day moving average price is $49.03. The firm has a market cap of $191.05 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 2.69 and a beta of 0.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a 12-month low of $45.85 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the company posted $0.88 EPS. Cisco Systems’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

Analysts Set New Price Targets

CSCO has been the subject of several research reports. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target (up previously from $51.00) on shares of Cisco Systems in a research note on Thursday, May 16th. Wells Fargo & Company lifted their price target on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Morgan Stanley began coverage on Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective for the company. JPMorgan Chase & Co. began coverage on Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective for the company. Finally, Oppenheimer lifted their price objective on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.47.

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.