Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,370 shares of the network equipment provider’s stock after selling 845 shares during the period. Anchor Investment Management LLC’s holdings in Cisco Systems were worth $3,278,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CSCO. FMR LLC boosted its position in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after buying an additional 13,285,052 shares during the period. Norges Bank purchased a new position in Cisco Systems in the 4th quarter worth approximately $3,297,905,000. Nordea Investment Management AB grew its position in Cisco Systems by 1.2% in the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock valued at $1,107,930,000 after acquiring an additional 216,632 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Cisco Systems by 7.0% during the third quarter. Franklin Resources Inc. now owns 18,214,461 shares of the network equipment provider’s stock worth $988,499,000 after purchasing an additional 1,195,469 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Cisco Systems by 18.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 13,880,257 shares of the network equipment provider’s stock valued at $821,711,000 after purchasing an additional 2,114,994 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 over the last 90 days. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CSCO. Piper Sandler lowered their target price on Cisco Systems from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. UBS Group raised their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upped their target price on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.74.

Cisco Systems Trading Up 0.1 %

NASDAQ:CSCO opened at $57.41 on Tuesday. The stock has a market cap of $228.39 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 4.16 and a beta of 0.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The business has a fifty day moving average of $61.19 and a 200-day moving average of $59.08.

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

Cisco Systems announced that its board has approved a share repurchase plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is currently 71.62%.

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.