RNC Capital Management LLC Sells 36,391 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

RNC Capital Management LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 996,855 shares of the network equipment provider’s stock after selling 36,391 shares during the period. Cisco Systems makes up about 3.0% of RNC Capital Management LLC’s holdings, making the stock its 10th biggest position. RNC Capital Management LLC’s holdings in Cisco Systems were worth $50,361,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. United Bank purchased a new position in Cisco Systems in the first quarter worth $645,000. Mirae Asset Global Investments Co. Ltd. raised its position in Cisco Systems by 32.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock worth $236,593,000 after acquiring an additional 1,040,607 shares in the last quarter. Roundview Capital LLC raised its position in Cisco Systems by 13.1% in the first quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock worth $588,000 after acquiring an additional 1,221 shares in the last quarter. Merit Financial Group LLC raised its position in Cisco Systems by 21.5% in the first quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock worth $656,000 after acquiring an additional 2,079 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in Cisco Systems by 8.1% in the first quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock worth $135,470,000 after acquiring an additional 182,857 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research analyst reports. Melius Research restated a “hold” rating and issued a $55.00 price target on shares of Cisco Systems in a research report on Monday, January 8th. Melius cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. UBS Group raised their price target on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Piper Sandler raised their price target on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Finally, Barclays raised their price target on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.42.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $49.77 on Thursday. The firm has a market capitalization of $201.53 billion, a P/E ratio of 15.13, a P/E/G ratio of 2.25 and a beta of 0.87. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The business’s 50-day simple moving average is $49.78 and its 200-day simple moving average is $50.94.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company’s revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 EPS. Equities analysts predict that Cisco Systems, Inc. will post 3.16 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be paid a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s payout ratio is currently 48.63%.

Insider Activity

In related news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction dated 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 owns 191,559 shares in the company, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock valued at $972,080 in the last three months. Corporate 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.