Martingale Asset Management L P Sells 7,243 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Martingale Asset Management L P decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 704,398 shares of the network equipment provider’s stock after selling 7,243 shares during the quarter. Cisco Systems accounts for 1.0% of Martingale Asset Management L P’s portfolio, making the stock its 11th largest position. Martingale Asset Management L P’s holdings in Cisco Systems were worth $41,700,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Mainstream Capital Management LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $132,000. GAMMA Investing LLC lifted its stake in Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after buying an additional 7,338 shares during the period. Oddo BHF Asset Management Sas bought a new position in shares of Cisco Systems during the third quarter valued at about $502,000. Finally, Nordea Investment Management AB increased its holdings in shares of Cisco Systems by 1.2% in the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after buying an additional 216,632 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock worth $4,275,553 in the last 90 days. Insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CSCO shares. Morgan Stanley increased their target price on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler dropped their price objective on Cisco Systems from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a research note on Tuesday, January 28th. StockNews.com cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 5th. Finally, DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.

Cisco Systems Price Performance

CSCO opened at $53.19 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market cap of $211.61 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. The stock has a fifty day simple moving average of $61.56 and a two-hundred day simple moving average of $58.91. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is currently 71.62%.

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.