Xponance Inc. Acquires 27,630 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Xponance Inc. raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 562,506 shares of the network equipment provider’s stock after acquiring an additional 27,630 shares during the period. Xponance Inc.’s holdings in Cisco Systems were worth $28,418,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings 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 worth $9,664,544,000 after purchasing an additional 4,061,022 shares during the last quarter. Morgan Stanley grew its holdings 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 worth $2,943,593,000 after purchasing an additional 9,160,347 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings 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 worth $2,835,509,000 after purchasing an additional 59,466,550 shares during the last quarter. FMR LLC grew its holdings in shares of Cisco Systems by 3.2% in the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after purchasing an additional 1,790,717 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Cisco Systems by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after purchasing an additional 3,087,294 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the firm’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 owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock worth $972,080 over the last three months. 0.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CSCO shares. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Citigroup started coverage on Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Morgan Stanley began coverage on Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective for the company. Finally, Piper Sandler lifted their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Two investment 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.03.

Cisco Systems Stock Performance

Cisco Systems stock traded up $0.32 during midday trading on Thursday, hitting $48.11. The stock had a trading volume of 12,687,153 shares, compared to its average volume of 19,440,393. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $194.81 billion, a PE ratio of 14.63, a P/E/G ratio of 2.75 and a beta of 0.87. The firm’s fifty day moving average is $49.14 and its two-hundred day moving average is $50.31.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. During the same period in the prior year, the company posted $0.76 EPS. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, research analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is currently 48.63%.

About Cisco Systems

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.