Trillium Asset Management LLC Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Trillium Asset Management LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 183,334 shares of the network equipment provider’s stock after selling 15,441 shares during the period. Trillium Asset Management LLC’s holdings in Cisco Systems were worth $10,853,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Pflug Koory LLC increased its position in Cisco Systems by 0.5% during the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after buying an additional 165 shares in the last quarter. Fairhaven Wealth Management LLC increased its position in Cisco Systems by 2.3% during the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after buying an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC increased its position in Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after buying an additional 168 shares in the last quarter. Maple Capital Management Inc. increased its position in Cisco Systems by 1.4% during the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after buying an additional 170 shares in the last quarter. Finally, Pathway Financial Advisors LLC boosted its holdings in shares of Cisco Systems by 3.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock worth $343,000 after purchasing an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 1.0 %

Shares of CSCO opened at $60.30 on Wednesday. The stock’s 50-day moving average is $61.86 and its two-hundred day moving average is $57.94. The stock has a market cap of $239.89 billion, a PE ratio of 26.33, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.72%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is presently 71.62%.

Cisco Systems announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on CSCO. Piper Sandler restated a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday, January 28th. Morgan Stanley raised their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Citigroup restated an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, Barclays restated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.63.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is currently owned by insiders.

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.