Schechter Investment Advisors LLC Lowers Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Schechter Investment Advisors LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 35.9% during the 4th quarter, HoldingsChannel reports. The firm owned 42,702 shares of the network equipment provider’s stock after selling 23,946 shares during the period. Schechter Investment Advisors LLC’s holdings in Cisco Systems were worth $2,157,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CSCO. Moneta Group Investment Advisors LLC grew its position in Cisco Systems by 112,307.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after purchasing an additional 59,466,550 shares during the last quarter. Norges Bank purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $2,028,781,000. Morgan Stanley boosted its holdings in shares of Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after acquiring an additional 9,160,347 shares in the last quarter. Barclays PLC boosted its holdings in shares of Cisco Systems by 83.6% in the second quarter. Barclays PLC now owns 14,544,909 shares of the network equipment provider’s stock valued at $752,554,000 after acquiring an additional 6,621,125 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Cisco Systems by 1.7% in the second quarter. BlackRock Inc. now owns 347,569,395 shares of the network equipment provider’s stock valued at $17,983,240,000 after acquiring an additional 5,924,553 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CSCO. Wells Fargo & Company began coverage on shares of Cisco Systems in a report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 target price on the stock. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. UBS Group lifted their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Piper Sandler raised their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Finally, Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.42.

Cisco Systems Stock Performance

Shares of CSCO opened at $49.62 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The stock has a market cap of $200.92 billion, a P/E ratio of 15.06, a PEG ratio of 2.25 and a beta of 0.87. The company has a 50-day moving average of $49.80 and a two-hundred day moving average of $50.99. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 earnings per share. As a group, research analysts predict that Cisco Systems, Inc. will post 3.16 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is currently 47.42%.

Insider Activity

In other 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 of the company’s stock, valued at $2,906,050. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred 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 directly owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, 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 valued at $972,080 over the last 90 days. 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.