RWC Asset Management LLP Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

RWC Asset Management LLP trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,659,994 shares of the network equipment provider’s stock after selling 95,393 shares during the quarter. Cisco Systems accounts for about 5.1% of RWC Asset Management LLP’s portfolio, making the stock its 3rd largest position. RWC Asset Management LLP’s holdings in Cisco Systems were worth $83,863,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. SS&H Financial Advisors Inc. acquired a new position in shares of Cisco Systems in the 3rd quarter worth approximately $3,512,000. Advisory Alpha LLC lifted its position in shares of Cisco Systems by 33.1% in the 3rd quarter. Advisory Alpha LLC now owns 7,582 shares of the network equipment provider’s stock worth $408,000 after purchasing an additional 1,887 shares during the period. Measured Wealth Private Client Group LLC lifted its position in shares of Cisco Systems by 28.4% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 17,458 shares of the network equipment provider’s stock worth $939,000 after purchasing an additional 3,864 shares during the period. UMB Bank n.a. lifted its position in shares of Cisco Systems by 43.3% in the 3rd quarter. UMB Bank n.a. now owns 291,293 shares of the network equipment provider’s stock worth $15,660,000 after purchasing an additional 88,075 shares during the period. Finally, LS Investment Advisors LLC lifted its position in shares of Cisco Systems by 8.1% in the 3rd quarter. LS Investment Advisors LLC now owns 38,704 shares of the network equipment provider’s stock worth $2,081,000 after purchasing an additional 2,890 shares during the period. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Down 0.5 %

CSCO traded down $0.24 during trading on Friday, hitting $47.86. 14,658,910 shares of the company’s stock were exchanged, compared to its average volume of 16,851,638. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The stock has a market cap of $193.79 billion, a P/E ratio of 14.55, a PEG ratio of 2.78 and a beta of 0.87. The business’s 50 day moving average is $48.94 and its two-hundred day moving average is $50.06.

Cisco Systems (NASDAQ:CSCO) last released 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. The business had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were given a $0.40 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.34%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is currently 48.63%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 in the last quarter. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CSCO has been the topic of a number of recent analyst reports. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. UBS Group boosted their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Citigroup began coverage on shares of Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price on the stock. Finally, Piper Sandler boosted their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and an average target price of $55.53.

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.