Bridges Investment Management Inc. Sells 1,200 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bridges Investment Management Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 4.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 28,227 shares of the network equipment provider’s stock after selling 1,200 shares during the quarter. Bridges Investment Management Inc.’s holdings in Cisco Systems were worth $1,426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wealth Dimensions Group Ltd. raised its position in shares of Cisco Systems by 1.4% during the second quarter. Wealth Dimensions Group Ltd. now owns 13,401 shares of the network equipment provider’s stock worth $693,000 after acquiring an additional 188 shares during the last quarter. Strong Tower Advisory Services raised its position in shares of Cisco Systems by 1.3% during the third quarter. Strong Tower Advisory Services now owns 14,831 shares of the network equipment provider’s stock worth $797,000 after acquiring an additional 190 shares during the last quarter. Richard W. Paul & Associates LLC raised its position in shares of Cisco Systems by 0.9% during the third quarter. Richard W. Paul & Associates LLC now owns 20,996 shares of the network equipment provider’s stock worth $1,129,000 after acquiring an additional 191 shares during the last quarter. Cassia Capital Partners LLC raised its position in shares of Cisco Systems by 1.4% during the third quarter. Cassia Capital Partners LLC now owns 13,950 shares of the network equipment provider’s stock worth $750,000 after acquiring an additional 191 shares during the last quarter. Finally, Waddell & Associates LLC raised its position in shares of Cisco Systems by 0.8% during the third quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock worth $1,328,000 after acquiring an additional 191 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.0 %

Shares of NASDAQ CSCO traded up $0.02 during midday trading on Wednesday, hitting $48.98. 2,313,290 shares of the stock traded hands, compared to its average volume of 19,522,928. The company has a market cap of $198.33 billion, a PE ratio of 15.00, a P/E/G ratio of 2.27 and a beta of 0.87. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The business has a 50 day moving average price of $49.65 and a two-hundred day moving average price of $50.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its quarterly earnings data 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 firm had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post 3.16 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be given a dividend of $0.40 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.27%. Cisco Systems’s payout ratio is presently 47.42%.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’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 transaction, the executive vice president now 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 SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock valued at $972,080 over the last 90 days. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CSCO shares. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Melius Research reiterated a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a report on Monday, January 8th. UBS Group lifted their target price on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Barclays lifted their target price on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Finally, Piper Sandler lifted their target price on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average price target of $56.42.

View Our Latest Research Report on CSCO

About Cisco Systems

(Free Report)

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.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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