Los Angeles Capital Management LLC Sells 2,124,818 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Los Angeles Capital Management LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 32.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,390,285 shares of the network equipment provider’s stock after selling 2,124,818 shares during the quarter. Cisco Systems comprises about 0.8% of Los Angeles Capital Management LLC’s holdings, making the stock its 23rd biggest holding. Los Angeles Capital Management LLC’s holdings in Cisco Systems were worth $221,797,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC bought a new stake in Cisco Systems during the 4th quarter worth about $32,000. DiNuzzo Private Wealth Inc. bought a new stake in Cisco Systems during the 4th quarter worth about $33,000. Morton Brown Family Wealth LLC raised its holdings in Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. Bourgeon Capital Management LLC raised its holdings in Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new stake in Cisco Systems during the 4th quarter worth about $43,000. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CSCO shares. Citigroup started coverage on Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Piper Sandler boosted their target price on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Finally, Melius Research restated a “hold” rating and set a $55.00 target price on shares of Cisco Systems in a research report on Monday, January 8th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.53.

Cisco Systems Stock Down 0.1 %

Shares of Cisco Systems stock traded down $0.05 during trading on Thursday, reaching $46.79. The stock had a trading volume of 7,196,577 shares, compared to its average volume of 19,092,258. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $189.46 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 2.71 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 fifty day moving average price of $48.86 and a two-hundred day moving average price of $49.90.

Cisco Systems (NASDAQ:CSCO) last released its earnings results 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 for 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%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 EPS. Sell-side analysts predict that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were paid 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 yield of 3.42%. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s payout ratio is presently 48.63%.

Insiders Place Their Bets

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s 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 transaction, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock valued at $972,080 in the last three months. 0.02% of the stock is currently owned by corporate insiders.

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.