River Road Asset Management LLC Sells 6,172 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

River Road Asset Management LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 249,366 shares of the network equipment provider’s stock after selling 6,172 shares during the quarter. River Road Asset Management LLC’s holdings in Cisco Systems were worth $12,598,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CSCO. Kathleen S. Wright Associates Inc. acquired a new position in shares of Cisco Systems during the third quarter worth $27,000. Valued Wealth Advisors LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $32,000. Fortis Capital Advisors LLC purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $34,000. Morton Brown Family Wealth LLC raised its position in Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC increased its position in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares during the period. 73.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on CSCO shares. Melius Research reaffirmed a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a report on Monday, January 8th. Piper Sandler upped their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Wells Fargo & Company started coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price target for the company. Finally, UBS Group upped their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $56.03.

Cisco Systems Price Performance

CSCO stock opened at $48.14 on Thursday. 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 business has a 50 day simple moving average of $49.14 and a 200-day simple moving average of $50.31. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The company has a market capitalization of $194.93 billion, a P/E ratio of 14.53, a PEG ratio of 2.75 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is currently 48.63%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated 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 of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock worth $972,080 in the last 90 days. 0.02% of the stock is owned by company 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.