Keel Point LLC Sells 360 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Keel Point LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,833 shares of the network equipment provider’s stock after selling 360 shares during the quarter. Keel Point LLC’s holdings in Cisco Systems were worth $951,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Moneta Group Investment Advisors LLC increased its stake in shares of Cisco Systems by 112,307.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after buying an additional 59,466,550 shares during the period. Norges Bank acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $2,028,781,000. Morgan Stanley increased its stake in shares of Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after buying an additional 9,160,347 shares during the period. Barclays PLC increased its stake in shares of Cisco Systems by 83.6% in the second quarter. Barclays PLC now owns 14,544,909 shares of the network equipment provider’s stock valued at $752,554,000 after buying an additional 6,621,125 shares during the period. Finally, State Street Corp increased its stake in shares of Cisco Systems by 2.2% in the first quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock valued at $9,664,544,000 after buying an additional 4,061,022 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,441 shares of company stock valued at $972,080. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Up 0.3 %

Shares of NASDAQ:CSCO opened at $48.37 on Tuesday. The stock has a market cap of $195.86 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 2.78 and a beta of 0.87. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The business’s 50 day moving average is $49.22 and its 200 day moving average is $50.37.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. Cisco Systems’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 earnings per share. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.15 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be given a $0.40 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.31%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is currently 48.63%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Piper Sandler raised their target price on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Melius Research reaffirmed a “hold” rating and set a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. Finally, Morgan Stanley began coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price for the company. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $56.03.

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.