Klingman & Associates LLC Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Klingman & Associates LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,154 shares of the network equipment provider’s stock after selling 843 shares during the quarter. Klingman & Associates LLC’s holdings in Cisco Systems were worth $513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. Wealthspire Advisors LLC boosted its holdings in shares of Cisco Systems by 48.1% during the 3rd quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock valued at $3,838,000 after buying an additional 23,194 shares in the last quarter. HBK Sorce Advisory LLC grew its holdings in Cisco Systems by 0.5% in the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock worth $3,448,000 after purchasing an additional 301 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of Cisco Systems by 1.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after purchasing an additional 49,700 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in shares of Cisco Systems by 0.6% during the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock valued at $9,734,000 after purchasing an additional 1,097 shares during the last quarter. Finally, Waverly Advisors LLC grew its stake in shares of Cisco Systems by 140.8% in the 3rd quarter. Waverly Advisors LLC now owns 46,753 shares of the network equipment provider’s stock worth $2,513,000 after buying an additional 27,337 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 2.1 %

CSCO stock traded down $1.04 during mid-day trading on Friday, reaching $48.49. The company had a trading volume of 16,205,368 shares, compared to its average volume of 19,709,576. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. 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 firm has a 50 day moving average of $49.28 and a 200 day moving average of $50.48. The company has a market capitalization of $196.35 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 2.82 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company 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%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post 3.15 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.30%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is currently 48.63%.

Analyst Ratings Changes

A number of research firms have weighed in on CSCO. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Tuesday. UBS Group boosted their price target on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, Piper Sandler increased their price objective on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Two equities research 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $56.03.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value 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 filing with the SEC, which is available at this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were 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 in the company, valued at approximately $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by corporate insiders.

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.