Applied Finance Capital Management LLC Purchases 51,392 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Applied Finance Capital Management LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 579,679 shares of the network equipment provider’s stock after purchasing an additional 51,392 shares during the quarter. Cisco Systems makes up approximately 2.5% of Applied Finance Capital Management LLC’s portfolio, making the stock its 11th biggest holding. Applied Finance Capital Management LLC’s holdings in Cisco Systems were worth $29,285,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CSCO. Charles Schwab Investment Management Inc. raised its holdings in 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 valued at $3,672,445,000 after acquiring an additional 6,345,954 shares during the period. FMR LLC raised its holdings in Cisco Systems by 3.2% during the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after acquiring an additional 1,790,717 shares during the period. Northern Trust Corp raised its holdings in Cisco Systems by 3.8% during the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after acquiring an additional 1,847,682 shares during the period. Invesco Ltd. raised its holdings in Cisco Systems by 3.7% during the 3rd quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock valued at $1,802,909,000 after acquiring an additional 1,181,327 shares during the period. Finally, California Public Employees Retirement System raised its holdings in 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 valued at $947,262,000 after acquiring an additional 3,753,165 shares during the period. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of a number of analyst reports. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Piper Sandler reissued a “neutral” rating and set a $52.00 target price (up previously from $51.00) on shares of Cisco Systems in a report on Thursday. Wells Fargo & Company boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday. Finally, JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.47.

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Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were 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 of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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 sold 19,441 shares of company stock valued at $972,080 over the last three months. Insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

NASDAQ:CSCO traded down $0.17 during midday trading on Friday, hitting $48.17. The company had a trading volume of 22,020,305 shares, compared to its average volume of 18,663,308. Cisco Systems, Inc. has a 52-week low of $45.70 and a 52-week high of $58.19. The stock’s fifty day moving average price is $48.69 and its 200-day moving average price is $49.52. The company has a market capitalization of $195.05 billion, a PE ratio of 16.22, a P/E/G ratio of 2.79 and a beta of 0.87. The company has a quick ratio of 1.26, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its quarterly 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. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. As a group, research analysts expect that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

About Cisco Systems

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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.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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