PDS Planning Inc Sells 1,631 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

PDS Planning Inc lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,527 shares of the network equipment provider’s stock after selling 1,631 shares during the period. PDS Planning Inc’s holdings in Cisco Systems were worth $1,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. California Public Employees Retirement System lifted its holdings in Cisco Systems by 25.0% during the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after buying an additional 3,753,165 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Cisco Systems during the 3rd quarter worth about $179,207,000. Capital Wealth Planning LLC lifted its holdings in Cisco Systems by 7,074.3% during the 3rd quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock worth $175,883,000 after buying an additional 3,226,040 shares during the period. Pacer Advisors Inc. lifted its holdings in Cisco Systems by 32.7% during the 4th quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock worth $391,498,000 after buying an additional 1,909,597 shares during the period. Finally, Northern Trust Corp lifted its holdings in Cisco Systems by 3.8% during the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after buying an additional 1,847,682 shares during the period. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CSCO. Melius Research reaffirmed a “hold” rating and set a $55.00 target price on shares of Cisco Systems in a report on Monday, January 8th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Morgan Stanley began coverage on Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective on the stock. Citigroup began coverage on Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective on the stock. Finally, Piper Sandler boosted their price objective on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and a consensus target price of $55.53.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded down $0.18 during mid-day trading on Monday, hitting $48.14. 20,131,136 shares of the company’s stock traded hands, compared to its average volume of 19,517,379. The company’s 50-day moving average is $49.07 and its two-hundred day moving average is $50.20. 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 company has a market capitalization of $194.93 billion, a P/E ratio of 14.63, a PEG ratio of 2.77 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.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm’s revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Increases Dividend

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

Insider Activity

In other news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,441 shares of company stock worth $972,080. Corporate insiders own 0.02% of the company’s stock.

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.