Cisco Systems, Inc. (NASDAQ:CSCO) Stake Lifted by Lido Advisors LLC

Lido Advisors LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 349,360 shares of the network equipment provider’s stock after purchasing an additional 34,129 shares during the period. Lido Advisors LLC’s holdings in Cisco Systems were worth $20,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC grew its holdings in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after buying an additional 13,285,052 shares in the last quarter. Norges Bank bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $3,297,905,000. Northern Trust Corp boosted its holdings in Cisco Systems by 11.4% during the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock valued at $2,796,505,000 after acquiring an additional 4,832,813 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock worth $1,741,597,000 after purchasing an additional 681,555 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of 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 worth $1,107,930,000 after acquiring an additional 216,632 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSCO has been the topic of several recent research reports. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Evercore ISI cut their price target on shares of Cisco Systems from $75.00 to $67.00 and set an “outperform” rating for the company in a report on Monday. Rosenblatt Securities cut their price target on Cisco Systems from $80.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Piper Sandler decreased their price objective on Cisco Systems from $72.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $65.05.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $56.84 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $226.13 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock’s 50-day simple moving average is $59.67 and its 200 day simple moving average is $59.29.

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

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.41 per share. The ex-dividend date was Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.89%. Cisco Systems’s payout ratio is presently 71.62%.

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

Insider Activity

In related news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,547 shares of company stock valued at $4,275,553. Company insiders own 0.01% of the company’s stock.

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.