King Luther Capital Management Corp Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

King Luther Capital Management Corp lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 636,136 shares of the network equipment provider’s stock after selling 24,198 shares during the quarter. King Luther Capital Management Corp’s holdings in Cisco Systems were worth $32,138,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Wealthspire Advisors LLC increased its holdings 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 valued at $3,838,000 after acquiring an additional 23,194 shares during the period. Roble Belko & Company Inc grew its stake in shares of Cisco Systems by 77.1% during the 4th quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock worth $324,000 after purchasing an additional 2,788 shares during the period. HBK Sorce Advisory LLC grew its stake 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 worth $3,448,000 after purchasing an additional 301 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $28,685,000. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of Cisco Systems by 1.1% in the 3rd 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 buying an additional 49,700 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.3 %

Shares of Cisco Systems stock traded up $0.63 during trading on Wednesday, hitting $47.57. 10,511,269 shares of the stock traded hands, compared to its average volume of 19,337,361. The stock has a market cap of $192.62 billion, a P/E ratio of 15.92, a PEG ratio of 2.15 and a beta of 0.87. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a twelve month low of $46.20 and a twelve month high of $58.19. The company has a fifty day moving average price of $48.57 and a two-hundred day moving average price of $49.40.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the company earned $0.88 EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. Equities research analysts predict that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.36%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CSCO shares. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective (up previously from $51.00) on shares of Cisco Systems in a research note on Thursday, May 16th. Deutsche Bank Aktiengesellschaft upped 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, April 9th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, May 16th. UBS Group increased their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, Citigroup began coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.47.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the company’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 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares in the company, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. Insiders sold a total of 27,457 shares of company stock worth $1,358,772 over the last three months. 0.02% of the stock is currently owned by insiders.

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.