Janus Henderson Group PLC Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Janus Henderson Group PLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 59.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,123,140 shares of the network equipment provider’s stock after selling 3,169,118 shares during the period. Janus Henderson Group PLC’s holdings in Cisco Systems were worth $105,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Delos Wealth Advisors LLC raised its position in shares of Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $33,000. Morton Brown Family Wealth LLC raised its position in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares during the period. Bourgeon Capital Management LLC lifted its stake in shares of Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares during the last quarter. Finally, Retirement Group LLC boosted its holdings in shares of Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. Barclays upped their price target on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 17th. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Monday, May 13th. Finally, Wells Fargo & Company upped their target price on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. One 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 stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $56.47.

Cisco Systems Stock Up 0.9 %

Shares of NASDAQ CSCO traded up $0.42 during mid-day trading on Wednesday, hitting $48.56. The company had a trading volume of 3,196,280 shares, compared to its average volume of 19,429,721. Cisco Systems, Inc. has a 1-year low of $44.95 and a 1-year high of $58.19. The company has a market capitalization of $195.64 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 2.78 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The business’s 50-day simple moving average is $46.77 and its 200 day simple moving average is $48.32.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. 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 prior year, the firm earned $0.88 earnings per share. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now 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 sold 41,106 shares of company stock valued at $1,908,923 in the last ninety days. Insiders own 0.02% of the company’s stock.

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.