Bryn Mawr Capital Management LLC Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Bryn Mawr Capital Management LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% during the 4th quarter, Holdings Channel reports. The firm owned 399,674 shares of the network equipment provider’s stock after selling 6,189 shares during the quarter. Cisco Systems comprises approximately 1.3% of Bryn Mawr Capital Management LLC’s investment portfolio, making the stock its 15th largest position. Bryn Mawr Capital Management LLC’s holdings in Cisco Systems were worth $23,661,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its position in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after buying an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after acquiring an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Cisco Systems by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after acquiring an additional 1,677,383 shares during the period. FMR LLC raised its holdings in shares of Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Cisco Systems by 1.2% during the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock valued at $1,107,930,000 after buying an additional 216,632 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of several recent analyst reports. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Piper Sandler lifted their target price on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Tuesday, January 28th. Finally, Bank of America increased their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.53.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $64.27 on Wednesday. The stock’s 50-day moving average is $60.87 and its two-hundred day moving average is $56.56. The firm has a market cap of $255.68 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 4.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

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

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.55%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is currently 71.62%.

Cisco Systems announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the transaction, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,848 shares of company stock valued at $4,767,206 over the last quarter. Company insiders own 0.01% of the company’s stock.

Cisco Systems Profile

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.