Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Decreased by Intact Investment Management Inc.

Intact Investment Management Inc. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 244,500 shares of the network equipment provider’s stock after selling 28,650 shares during the period. Intact Investment Management Inc.’s holdings in Cisco Systems were worth $12,352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dohj LLC raised its stake in shares of Cisco Systems by 20.6% during the fourth quarter. Dohj LLC now owns 9,430 shares of the network equipment provider’s stock valued at $476,000 after purchasing an additional 1,610 shares in the last quarter. Alexander Randolph Advisory Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $2,854,000. Delta Investment Management LLC raised its position in Cisco Systems by 33.1% in the fourth quarter. Delta Investment Management LLC now owns 15,699 shares of the network equipment provider’s stock worth $793,000 after acquiring an additional 3,902 shares in the last quarter. Headlands Technologies LLC bought a new stake in Cisco Systems in the fourth quarter worth about $543,000. Finally, Citizens Financial Group Inc. RI raised its position in Cisco Systems by 38.5% in the fourth quarter. Citizens Financial Group Inc. RI now owns 220,201 shares of the network equipment provider’s stock worth $11,125,000 after acquiring an additional 61,182 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction on Wednesday, March 13th. The stock was 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 in the company, valued at $2,906,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 sale, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a 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 completion of the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 over the last three months. 0.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CSCO shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Barclays lifted their target price on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Wells Fargo & Company started coverage on Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price on the stock. UBS Group boosted 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. Finally, Piper Sandler boosted their target price on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Two research 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. According to MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $55.53.

Cisco Systems Stock Performance

CSCO stock traded down $0.24 during midday trading on Friday, hitting $47.86. The stock had a trading volume of 14,658,910 shares, compared to its average volume of 16,851,638. The firm has a market capitalization of $193.79 billion, a price-to-earnings ratio of 14.55, a P/E/G ratio of 2.78 and a beta of 0.87. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19. The stock has a 50-day simple moving average of $48.94 and a 200 day simple moving average of $50.06. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

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

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were paid a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was 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.