Arnhold LLC Has $22.13 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Arnhold LLC cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 438,111 shares of the network equipment provider’s stock after selling 25,344 shares during the quarter. Cisco Systems accounts for 2.5% of Arnhold LLC’s portfolio, making the stock its 9th biggest holding. Arnhold LLC’s holdings in Cisco Systems were worth $22,133,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CSCO. California Public Employees Retirement System grew its stake in shares of Cisco Systems by 25.0% in the 4th 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 buying an additional 3,753,165 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter valued at about $179,207,000. Capital Wealth Planning LLC boosted its stake in Cisco Systems by 7,074.3% during the 3rd quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock valued at $175,883,000 after purchasing an additional 3,226,040 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Cisco Systems by 32.7% during the 4th quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock valued at $391,498,000 after purchasing an additional 1,909,597 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Cisco Systems by 3.8% during the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after purchasing an additional 1,847,682 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In other news, 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 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 is available at the SEC website. In other news, 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 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 is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’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 completion of the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. 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. 0.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Morgan Stanley assumed coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target for the company. UBS Group lifted their price target on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Piper Sandler lifted their price target on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Finally, Citigroup initiated coverage on Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price on the stock. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $55.53.

Cisco Systems Stock Performance

CSCO stock traded down $0.80 during midday trading on Tuesday, reaching $46.98. 18,531,437 shares of the company’s stock traded hands, compared to its average volume of 19,243,893. The company has a 50-day moving average price of $48.90 and a two-hundred day moving average price of $49.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19. The firm has a market capitalization of $190.23 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 2.76 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were issued a $0.40 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.41%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is presently 48.63%.

Cisco Systems 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.