White Pine Capital LLC Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

White Pine Capital LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 15.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,438 shares of the network equipment provider’s stock after selling 5,455 shares during the quarter. White Pine Capital LLC’s holdings in Cisco Systems were worth $1,487,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. California Public Employees Retirement System increased its position in Cisco Systems by 25.0% during the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after acquiring an additional 3,753,165 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Cisco Systems during the third quarter valued at $179,207,000. Capital Wealth Planning LLC increased its position in Cisco Systems by 7,074.3% during the third quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock valued at $175,883,000 after acquiring an additional 3,226,040 shares during the last quarter. Pacer Advisors Inc. increased its position in Cisco Systems by 32.7% during the fourth quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock valued at $391,498,000 after acquiring an additional 1,909,597 shares during the last quarter. Finally, Northern Trust Corp increased its position in Cisco Systems by 3.8% during the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after acquiring an additional 1,847,682 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CSCO shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Piper Sandler upped their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.53.

Insider Activity at Cisco Systems

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

Cisco Systems Stock Down 0.5 %

Shares of CSCO stock traded down $0.24 during mid-day trading on Friday, hitting $47.86. 14,658,910 shares of the stock traded hands, compared to its average volume of 16,851,638. The stock has a market cap of $193.79 billion, a P/E ratio of 14.55, a P/E/G ratio of 2.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The stock’s fifty day moving average is $48.94 and its two-hundred day moving average is $50.06. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.76 EPS. Equities analysts predict that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were given a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

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.