Ifrah Financial Services Inc. Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Ifrah Financial Services Inc. trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,602 shares of the network equipment provider’s stock after selling 506 shares during the quarter. Ifrah Financial Services Inc.’s holdings in Cisco Systems were worth $435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its position in Cisco Systems by 3.2% during the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after buying an additional 1,790,717 shares during the period. Northern Trust Corp increased its stake in shares of 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 purchasing an additional 1,847,682 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Cisco Systems by 3.7% in the 3rd quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock worth $1,802,909,000 after purchasing an additional 1,181,327 shares during the period. California Public Employees Retirement System lifted its stake in Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after purchasing an additional 3,753,165 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Cisco Systems by 3.7% during the third quarter. AQR Capital Management LLC now owns 11,376,937 shares of the network equipment provider’s stock valued at $611,624,000 after purchasing an additional 405,699 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

NASDAQ CSCO traded up $0.33 during trading hours on Friday, reaching $47.12. 17,935,302 shares of the stock traded hands, compared to its average volume of 17,219,910. 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 stock has a 50 day simple moving average of $48.79 and a two-hundred day simple moving average of $49.83. Cisco Systems, Inc. has a 1 year low of $45.56 and a 1 year high of $58.19. The company has a market cap of $190.80 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 2.70 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. During the same period in the previous year, the firm posted $0.76 earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, analysts predict that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were issued a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is currently 48.63%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSCO. Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Piper Sandler increased their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. UBS Group boosted their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Finally, Melius Research reissued a “hold” rating and set a $55.00 target price on shares of Cisco Systems in a report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.53.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s 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 sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction on 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 owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 in the last quarter. Company 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.