Napatree Capital LLC Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Napatree Capital LLC bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,918 shares of the network equipment provider’s stock, valued at approximately $754,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CSCO. Charles Schwab Investment Management Inc. grew its holdings in Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares during the period. Northern Trust Corp grew its stake in shares of Cisco Systems by 3.8% in the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after acquiring an additional 1,847,682 shares during the last quarter. Norges Bank bought a new position in shares of Cisco Systems during the fourth quarter valued at $2,528,939,000. Wellington Management Group LLP raised its position in shares of Cisco Systems by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after purchasing an additional 3,314,330 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Cisco Systems by 12.3% in the 4th quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after acquiring an additional 2,723,260 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.2 %

Shares of CSCO stock opened at $45.78 on Tuesday. The stock has a fifty day simple moving average of $47.36 and a two-hundred day simple moving average of $48.89. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The firm has a market capitalization of $184.44 billion, a PE ratio of 15.38, a PEG ratio of 2.65 and a beta of 0.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter last year, the company earned $0.88 EPS. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. On average, analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.49%. Cisco Systems’s dividend payout ratio is 53.87%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CSCO shares. Barclays boosted their price target on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price on the stock. Morgan Stanley started coverage on Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective for the company. Piper Sandler reissued a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Wednesday, June 5th. Finally, Wells Fargo & Company boosted their price target on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.47.

View Our Latest Stock Report on Cisco Systems

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares in the company, valued at approximately $8,717,209.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares in the company, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,106 shares of company stock valued at $1,908,923. Corporate insiders own 0.02% of the company’s stock.

About Cisco Systems

(Free Report)

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.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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