Charles Schwab Investment Management Inc. Grows Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Charles Schwab Investment Management Inc. increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,439,747 shares of the network equipment provider’s stock after purchasing an additional 6,345,954 shares during the period. Cisco Systems accounts for 0.9% of Charles Schwab Investment Management Inc.’s holdings, making the stock its 14th biggest holding. Charles Schwab Investment Management Inc. owned 1.81% of Cisco Systems worth $3,672,445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Cisco Systems by 3.2% during the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after acquiring an additional 1,790,717 shares in the last quarter. Northern Trust Corp lifted its position in Cisco Systems by 3.8% during the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after purchasing an additional 1,847,682 shares during the last quarter. Invesco Ltd. grew its stake in shares of Cisco Systems by 3.7% in the 3rd quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock worth $1,802,909,000 after buying an additional 1,181,327 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Cisco Systems by 25.0% in 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 buying an additional 3,753,165 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Cisco Systems by 3.7% in the 3rd quarter. AQR Capital Management LLC now owns 11,376,937 shares of the network equipment provider’s stock valued at $611,624,000 after acquiring an additional 405,699 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CSCO shares. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Piper Sandler upped their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. UBS Group raised their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Cisco Systems presently has an average rating of “Hold” and an average target price of $55.53.

Cisco Systems Stock Performance

Shares of CSCO traded up $0.76 during mid-day trading on Wednesday, reaching $48.04. The company had a trading volume of 5,783,984 shares, compared to its average volume of 18,914,430. The stock has a market capitalization of $194.52 billion, a P/E ratio of 14.37, a PEG ratio of 2.72 and a beta of 0.87. Cisco Systems, Inc. has a 52-week low of $45.70 and a 52-week high of $58.19. The stock has a 50 day moving average of $48.75 and a two-hundred day moving average of $49.69. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

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

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was 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 48.63%.

Insider Buying and Selling

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 stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $2,906,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is owned by company 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.