Auxano Advisors LLC Has $1.07 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Auxano Advisors LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 21,184 shares of the network equipment provider’s stock after selling 737 shares during the period. Auxano Advisors LLC’s holdings in Cisco Systems were worth $1,070,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC raised its position in Cisco Systems by 3.2% in the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after purchasing an additional 1,790,717 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Cisco Systems by 3.8% during the third 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 in the last quarter. Invesco Ltd. increased its holdings in shares of Cisco Systems by 3.7% during the third quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock worth $1,802,909,000 after buying an additional 1,181,327 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Cisco Systems by 25.0% during the fourth 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 in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of 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 worth $611,624,000 after buying an additional 405,699 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO traded down $0.80 during midday trading on Tuesday, reaching $46.98. The stock had a trading volume of 17,687,547 shares, compared to its average volume of 19,237,996. The firm has a 50 day simple moving average of $48.92 and a 200-day simple moving average of $49.97. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The firm has a market cap of $190.23 billion, a PE ratio of 14.52, a P/E/G ratio of 2.76 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion during 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 company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 EPS. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced 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 an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.41%. Cisco Systems’s payout ratio is presently 48.63%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CSCO. Melius Research reissued a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research note on Monday, January 8th. Piper Sandler increased their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Barclays increased their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price objective on the stock. Finally, Wells Fargo & Company initiated coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective on the stock. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $55.53.

Insider Buying and Selling

In related news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were 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 owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of 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. In the last 90 days, insiders sold 19,441 shares of company stock valued at $972,080. Company insiders own 0.02% of the company’s stock.

About Cisco Systems

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.