Zevenbergen Capital Investments LLC Sells 49,750 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Zevenbergen Capital Investments LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 27.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,225 shares of the network equipment provider’s stock after selling 49,750 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Cisco Systems were worth $6,450,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CSCO. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Cisco Systems by 1,096.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after buying an additional 2,663,676 shares during the period. Roble Belko & Company Inc lifted its position in shares of Cisco Systems by 77.1% in the 4th quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock worth $324,000 after purchasing an additional 2,788 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Cisco Systems in the 4th quarter valued at $28,685,000. Allen Mooney & Barnes Investment Advisors LLC increased its position in shares of Cisco Systems by 0.6% during the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock worth $9,734,000 after buying an additional 1,097 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in Cisco Systems by 0.6% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock valued at $13,683,000 after buying an additional 1,520 shares during the period. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CSCO. Wells Fargo & Company boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Morgan Stanley initiated coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Wednesday, June 5th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Finally, StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Trading Up 1.3 %

Shares of CSCO traded up $0.62 during trading hours on Friday, hitting $47.38. The company had a trading volume of 20,936,110 shares, compared to its average volume of 18,369,060. The firm has a market cap of $190.89 billion, a P/E ratio of 15.95, a P/E/G ratio of 2.71 and a beta of 0.85. The stock’s 50 day moving average price is $46.89 and its 200 day moving average price is $48.57. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data 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. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, research analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued 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 3.38%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’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 sale, 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 legal filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’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 completion of the sale, the executive vice president now directly owns 176,384 shares in the company, valued at $7,997,250.56. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock worth $1,908,923 in the last 90 days. Company insiders own 0.02% of the company’s stock.

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.