Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Howland Capital Management LLC

Howland Capital Management LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,515 shares of the network equipment provider’s stock after selling 1,346 shares during the quarter. Howland Capital Management LLC’s holdings in Cisco Systems were worth $774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Cisco Systems during the 4th quarter worth about $2,528,939,000. Charles Schwab Investment Management Inc. increased its position in shares of Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after acquiring an additional 6,345,954 shares in the last quarter. FIL Ltd lifted its holdings in shares of Cisco Systems by 47.1% during the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock valued at $955,961,000 after acquiring an additional 6,054,748 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Cisco Systems by 29.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock valued at $895,576,000 after purchasing an additional 3,989,543 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Cisco Systems by 25.0% in the fourth 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 purchasing an additional 3,753,165 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded up $0.49 during mid-day trading on Thursday, reaching $46.76. The company had a trading volume of 19,741,432 shares, compared to its average volume of 19,592,980. The company has a 50-day moving average price of $46.89 and a two-hundred day moving average price of $48.61. The stock has a market cap of $188.39 billion, a PE ratio of 15.71, a P/E/G ratio of 2.67 and a beta of 0.85. Cisco Systems, Inc. has a 1-year low of $44.95 and a 1-year high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

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

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. Cisco Systems’s payout ratio is 53.87%.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent research reports. Piper Sandler reissued a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research report on Wednesday, June 5th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. Oppenheimer raised their price objective on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Morgan Stanley started coverage on Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.47.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the transaction, the executive vice president now owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock worth $1,908,923 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

About Cisco Systems

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.