E Fund Management Co. Ltd. Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

E Fund Management Co. Ltd. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,671 shares of the network equipment provider’s stock after selling 5,766 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Cisco Systems were worth $3,520,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Waddell & Associates LLC boosted its position in 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 purchasing an additional 191 shares during the last quarter. Sax Wealth Advisors LLC grew its stake in shares of Cisco Systems by 3.6% in the 3rd quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock valued at $306,000 after buying an additional 196 shares in the last quarter. Winch Advisory Services LLC increased its holdings in 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 worth $66,000 after buying an additional 199 shares during the last quarter. Hyman Charles D raised its position in Cisco Systems by 0.3% during the fourth quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock valued at $3,573,000 after acquiring an additional 203 shares in the last quarter. Finally, Madrona Financial Services LLC lifted its stake in Cisco Systems by 2.4% in the fourth quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock valued at $453,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CSCO shares. Morgan Stanley started coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Piper Sandler boosted their target price on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Finally, Citigroup began coverage on shares of Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. Two research 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $55.53.

Cisco Systems Price Performance

NASDAQ:CSCO traded down $0.21 during mid-day trading on Thursday, hitting $47.79. The company’s stock had a trading volume of 12,198,880 shares, compared to its average volume of 18,946,561. 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 fifty day moving average of $48.75 and a 200-day moving average of $49.68. The company has a market capitalization of $193.51 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 2.72 and a beta of 0.87. Cisco Systems, Inc. has a fifty-two week low of $45.70 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results 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. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. Cisco Systems’s revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were given a $0.40 dividend. 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. This represents a $1.60 dividend on an annualized basis and a yield of 3.35%. Cisco Systems’s payout ratio is 48.63%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is accessible through this link. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction 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 owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by insiders.

Cisco Systems 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.