Pzena Investment Management LLC Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Pzena Investment Management LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,034,714 shares of the network equipment provider’s stock after selling 3,833 shares during the period. Pzena Investment Management LLC’s holdings in Cisco Systems were worth $49,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Cisco Systems by 1,096.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after buying an additional 2,663,676 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in shares of Cisco Systems by 0.6% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock worth $13,683,000 after acquiring an additional 1,520 shares during the last quarter. Marcum Wealth LLC increased its position in shares of Cisco Systems by 4.0% during the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock worth $1,215,000 after purchasing an additional 943 shares in the last quarter. Inscription Capital LLC lifted its holdings in Cisco Systems by 49.4% in the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after purchasing an additional 15,198 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Cisco Systems during the 4th quarter worth $117,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,944 shares of company stock valued at $3,566,120. 0.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CSCO has been the subject of a number of recent research reports. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Oppenheimer boosted their target price on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Barclays lowered their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Finally, Piper Sandler reissued a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average target price of $55.89.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $50.06 on Wednesday. The stock’s 50-day moving average is $47.73 and its two-hundred day moving average is $47.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company has a market cap of $201.68 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 3.98 and a beta of 0.85. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.82.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s revenue was down 10.3% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 53.87%.

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.