American International Group Inc. Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

American International Group Inc. lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,500,843 shares of the network equipment provider’s stock after selling 10,332 shares during the quarter. Cisco Systems comprises 0.3% of American International Group Inc.’s portfolio, making the stock its 29th biggest holding. American International Group Inc.’s holdings in Cisco Systems were worth $75,823,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Cisco Systems in the 4th quarter worth $2,528,939,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Cisco Systems by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares during the last quarter. FIL Ltd lifted its stake in shares of Cisco Systems by 47.1% during the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after purchasing an additional 6,054,748 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Cisco Systems by 29.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock worth $895,576,000 after purchasing an additional 3,989,543 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Cisco Systems by 25.0% during the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after purchasing an additional 3,753,165 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the transaction, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock worth $1,908,923 over the last quarter. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

Cisco Systems stock traded up $0.16 during midday trading on Friday, hitting $45.68. 15,274,176 shares of the company were exchanged, compared to its average volume of 19,183,470. The firm has a market capitalization of $184.04 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 2.64 and a beta of 0.85. Cisco Systems, Inc. has a fifty-two week low of $44.97 and a fifty-two week high of $58.19. The business has a fifty day simple moving average of $47.41 and a two-hundred day simple moving average of $48.89. 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 (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. Cisco Systems’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.50%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Oppenheimer upped their target price on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $55.00 to $60.00 in a research report on Monday, April 15th. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.47.

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.