Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,158,896 shares of the network equipment provider’s stock after purchasing an additional 48,755 shares during the period. Van ECK Associates Corp’s holdings in Cisco Systems were worth $58,548,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Wealthspire Advisors LLC raised its stake in shares of Cisco Systems by 48.1% in the 3rd quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after buying an additional 23,194 shares in the last quarter. Roble Belko & Company Inc lifted its holdings in Cisco Systems by 77.1% in the 4th quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after acquiring an additional 2,788 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in shares of Cisco Systems by 0.5% during the 3rd quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock valued at $3,448,000 after purchasing an additional 301 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $28,685,000. Finally, Adage Capital Partners GP L.L.C. lifted its stake 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 valued at $240,335,000 after purchasing an additional 49,700 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Cisco Systems stock traded down $0.60 on Tuesday, hitting $47.18. The company’s stock had a trading volume of 4,246,154 shares, compared to its average volume of 19,074,900. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The firm has a market cap of $191.04 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 2.76 and a beta of 0.87. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average price of $48.92 and a 200-day moving average price of $49.97.

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

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were given a $0.40 dividend. The ex-dividend date was Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.39%. Cisco Systems’s payout ratio is 48.63%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CSCO shares. Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Melius Research restated a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a report on Monday, January 8th. Finally, Piper Sandler raised their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.53.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction 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 approximately $16,424,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction dated 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 approximately $2,906,050. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,441 shares of company stock worth $972,080. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Company 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.