Rheos Capital Works Inc. Sells 170,000 Shares of Cisco Systems, Inc. $CSCO

Rheos Capital Works Inc. cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 52.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 155,000 shares of the network equipment provider’s stock after selling 170,000 shares during the quarter. Rheos Capital Works Inc.’s holdings in Cisco Systems were worth $11,940,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Northstar Advisory Group LLC grew its position in Cisco Systems by 1.6% during the fourth quarter. Northstar Advisory Group LLC now owns 8,203 shares of the network equipment provider’s stock worth $632,000 after buying an additional 133 shares in the last quarter. Green Alpha Advisors LLC grew its position in Cisco Systems by 1.2% during the fourth quarter. Green Alpha Advisors LLC now owns 12,349 shares of the network equipment provider’s stock worth $951,000 after buying an additional 141 shares in the last quarter. Benchmark Financial Wealth Advisors LLC grew its position in Cisco Systems by 1.4% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 10,449 shares of the network equipment provider’s stock worth $715,000 after buying an additional 142 shares in the last quarter. Cobblestone Capital Advisors LLC NY grew its position in Cisco Systems by 0.6% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 24,622 shares of the network equipment provider’s stock worth $1,685,000 after buying an additional 142 shares in the last quarter. Finally, Yoder Wealth Management Inc. grew its position in Cisco Systems by 3.8% during the third quarter. Yoder Wealth Management Inc. now owns 3,945 shares of the network equipment provider’s stock worth $270,000 after buying an additional 143 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on CSCO. Citigroup lifted their target price on Cisco Systems from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. CICC Research lifted their price objective on Cisco Systems from $84.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Argus raised Cisco Systems to a “strong-buy” rating in a report on Friday, February 13th. Truist Financial began coverage on Cisco Systems in a report on Tuesday, March 31st. They set a “buy” rating and a $94.00 price objective on the stock. Finally, Zacks Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.76.

Insider Transactions at Cisco Systems

In related news, EVP Oliver Tuszik sold 3,132 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total value of $249,745.68. Following the completion of the transaction, the executive vice president owned 188,613 shares in the company, valued at $15,040,000.62. The trade was a 1.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 2,179 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $77.74, for a total transaction of $169,395.46. Following the completion of the transaction, the senior vice president owned 28,807 shares of the company’s stock, valued at $2,239,456.18. This trade represents a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 46,431 shares of company stock worth $3,574,820 over the last ninety days. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

CSCO stock opened at $80.43 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The company has a 50 day moving average price of $79.43 and a 200 day moving average price of $75.82. Cisco Systems, Inc. has a fifty-two week low of $52.11 and a fifty-two week high of $88.18. The stock has a market capitalization of $317.69 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 2.98 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The firm had revenue of $15.35 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same quarter in the previous year, the company posted $0.94 EPS. Cisco Systems’s revenue was up 9.7% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be given a $0.42 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. This represents a $1.68 annualized dividend and a yield of 2.1%. Cisco Systems’s dividend payout ratio is presently 58.95%.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.