Klingenstein Fields & Co. LP Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Klingenstein Fields & Co. LP decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,921 shares of the network equipment provider’s stock after selling 938 shares during the period. Klingenstein Fields & Co. LP’s holdings in Cisco Systems were worth $249,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC increased its stake in shares of Cisco Systems by 48.1% during the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after purchasing an additional 23,194 shares in the last quarter. HBK Sorce Advisory LLC increased its stake in shares of Cisco Systems by 0.5% during 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 in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $28,685,000. Adage Capital Partners GP L.L.C. boosted its position in 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 worth $240,335,000 after acquiring an additional 49,700 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC boosted its position in 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 worth $9,734,000 after acquiring an additional 1,097 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CSCO. 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. UBS Group upped their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Piper Sandler upped their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Morgan Stanley initiated coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. Finally, Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus price target of $55.53.

Cisco Systems Price Performance

NASDAQ:CSCO traded down $0.19 during mid-day trading on Monday, hitting $48.13. 1,077,100 shares of the company’s stock traded hands, compared to its average volume of 19,271,926. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The firm’s 50 day simple moving average is $49.07 and its 200 day simple moving average is $50.20. Cisco Systems, Inc. has a 1 year low of $45.56 and a 1 year high of $58.19. The company has a market cap of $194.89 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 2.77 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. Sell-side analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. Cisco Systems’s payout ratio is 48.63%.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction dated 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 sale, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock worth $972,080 over the last ninety days. 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.