Malaga Cove Capital LLC Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Malaga Cove Capital LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,485 shares of the network equipment provider’s stock after selling 483 shares during the quarter. Malaga Cove Capital LLC’s holdings in Cisco Systems were worth $2,045,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Waddell & Associates LLC boosted its stake in shares of Cisco Systems by 0.8% during the third quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock valued at $1,328,000 after acquiring an additional 191 shares during the last quarter. Sax Wealth Advisors LLC boosted its stake in shares of Cisco Systems by 3.6% during the 3rd quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock worth $306,000 after purchasing an additional 196 shares during the last quarter. Winch Advisory Services LLC raised its position in shares of Cisco Systems by 19.3% in the third quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock valued at $66,000 after buying an additional 199 shares during the last quarter. Gill Capital Partners LLC raised its position in shares of Cisco Systems by 5.2% in the third quarter. Gill Capital Partners LLC now owns 4,155 shares of the network equipment provider’s stock valued at $223,000 after buying an additional 207 shares during the last quarter. Finally, Madrona Financial Services LLC lifted its stake in shares of Cisco Systems by 2.4% during the fourth quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock valued at $453,000 after buying an additional 207 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of recent analyst reports. Melius Research reissued a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research note on Monday, January 8th. Morgan Stanley assumed coverage on Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target on the stock. Piper Sandler upped 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Finally, Barclays upped their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and an average price target of $55.53.

Cisco Systems Stock Up 0.7 %

Shares of CSCO traded up $0.33 during trading on Friday, reaching $47.12. The company’s stock had a trading volume of 17,935,302 shares, compared to its average volume of 17,219,910. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. 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 market cap of $190.80 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 2.72 and a beta of 0.87. The company has a fifty day moving average of $48.79 and a two-hundred day moving average of $49.83.

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

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.40%. Cisco Systems’s dividend payout ratio (DPR) is 48.63%.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Cisco Systems 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 completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,441 shares of company stock valued at $972,080. Company 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.