AGF Management Ltd. Sells 25,099 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

AGF Management Ltd. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 658,993 shares of the network equipment provider’s stock after selling 25,099 shares during the period. AGF Management Ltd.’s holdings in Cisco Systems were worth $39,012,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems during the fourth quarter worth about $26,000. Highline Wealth Partners LLC lifted its stake in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the period. Synergy Investment Management LLC purchased a new stake in Cisco Systems in the fourth quarter worth $36,000. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems in the third quarter worth $40,000. Finally, Decker Retirement Planning Inc. bought a new position in Cisco Systems in the fourth quarter worth $49,000. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CSCO shares. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Wells Fargo & Company reissued an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. UBS Group lifted their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of Cisco Systems stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the sale, the executive vice president now directly owns 200,191 shares of the company’s stock, valued at approximately $12,886,294.67. The trade was a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,348 shares of company stock valued at $4,318,181 over the last quarter. 0.01% of the stock is owned by insiders.

Cisco Systems Trading Down 2.2 %

Shares of NASDAQ:CSCO opened at $60.67 on Wednesday. The business’s 50-day moving average is $61.72 and its 200 day moving average is $57.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The firm has a market capitalization of $241.36 billion, a P/E ratio of 26.49, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Cisco Systems declared that its board has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.