Richard Bernstein Advisors LLC Decreases Position in Cisco Systems, Inc. $CSCO

Richard Bernstein Advisors LLC lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 51.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,188 shares of the network equipment provider’s stock after selling 28,706 shares during the period. Richard Bernstein Advisors LLC’s holdings in Cisco Systems were worth $1,860,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PFC Capital Group Inc. raised its stake in shares of Cisco Systems by 7.0% in the third quarter. PFC Capital Group Inc. now owns 25,579 shares of the network equipment provider’s stock worth $1,750,000 after purchasing an additional 1,664 shares during the last quarter. Bank of Montreal Can grew its position in Cisco Systems by 21.9% in the 3rd quarter. Bank of Montreal Can now owns 6,934,909 shares of the network equipment provider’s stock worth $474,486,000 after purchasing an additional 1,247,143 shares during the period. Legal & General Group Plc boosted its stake in shares of Cisco Systems by 7.2% in the 3rd quarter. Legal & General Group Plc now owns 37,674,954 shares of the network equipment provider’s stock worth $2,577,720,000 after buying an additional 2,535,716 shares during the last quarter. Banque Cantonale Vaudoise boosted its position in Cisco Systems by 3.3% in the third quarter. Banque Cantonale Vaudoise now owns 285,029 shares of the network equipment provider’s stock worth $19,501,000 after purchasing an additional 9,049 shares during the last quarter. Finally, Sienna Gestion lifted its stake in shares of Cisco Systems by 102.9% in the 3rd quarter. Sienna Gestion now owns 454,172 shares of the network equipment provider’s stock worth $28,332,000 after purchasing an additional 230,284 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 3.1%

Shares of Cisco Systems stock opened at $76.21 on Tuesday. Cisco Systems, Inc. has a twelve month low of $52.11 and a twelve month high of $88.18. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $77.93 and a 200-day moving average price of $74.25. The firm has a market cap of $301.02 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 2.97 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The company had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.2%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 57.54%.

Analyst Ratings Changes

CSCO has been the subject of several analyst reports. Evercore upgraded Cisco Systems from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $100.00 in a research note on Monday, January 26th. Erste Group Bank downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Melius Research increased their target price on shares of Cisco Systems from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Piper Sandler lifted their price target on shares of Cisco Systems from $70.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Finally, CICC Research lifted their target price on shares of Cisco Systems from $84.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.55.

Insider Activity

In other Cisco Systems news, Director Michael D. Capellas sold 16,150 shares of Cisco Systems stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $77.28, for a total transaction of $1,248,072.00. Following the completion of the transaction, the director directly owned 157,218 shares of the company’s stock, valued at $12,149,807.04. The trade was a 9.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 2,179 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $77.74, for a total transaction of $169,395.46. Following the transaction, the senior vice president owned 28,807 shares in the company, valued at $2,239,456.18. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 75,677 shares of company stock worth $5,811,211. Company insiders own 0.01% of the company’s stock.

Cisco Systems Company Profile

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.