Assenagon Asset Management S.A. Cuts Stake in Cisco Systems, Inc. $CSCO

Assenagon Asset Management S.A. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 166,564 shares of the network equipment provider’s stock after selling 8,285 shares during the period. Assenagon Asset Management S.A.’s holdings in Cisco Systems were worth $12,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. Norges Bank acquired a new stake in shares of Cisco Systems in the second quarter worth approximately $3,816,825,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Cisco Systems by 413.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,393,371 shares of the network equipment provider’s stock valued at $1,553,645,000 after buying an additional 18,030,441 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Cisco Systems by 110.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 18,406,442 shares of the network equipment provider’s stock worth $1,259,369,000 after buying an additional 9,648,265 shares during the period. Wellington Management Group LLP lifted its position in shares of Cisco Systems by 19.5% during the third quarter. Wellington Management Group LLP now owns 33,748,414 shares of the network equipment provider’s stock worth $2,309,066,000 after purchasing an additional 5,498,375 shares in the last quarter. Finally, Invesco Ltd. raised its position in Cisco Systems by 10.5% in the 3rd quarter. Invesco Ltd. now owns 53,612,720 shares of the network equipment provider’s stock valued at $3,668,182,000 after purchasing an additional 5,081,469 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 7,981 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $79.50, for a total value of $634,489.50. Following the completion of the sale, the executive vice president directly owned 187,097 shares in the company, valued at approximately $14,874,211.50. The trade was a 4.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Oliver Tuszik sold 3,132 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 188,613 shares in the company, valued at approximately $15,040,000.62. This represents a 1.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 46,431 shares of company stock worth $3,574,820 over the last quarter. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

Shares of CSCO opened at $79.92 on Friday. Cisco Systems, Inc. has a 12 month low of $52.11 and a 12 month high of $88.18. 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 market cap of $315.68 billion, a P/E ratio of 28.04, a PEG ratio of 3.10 and a beta of 0.87. The stock has a fifty day moving average price of $78.97 and a 200 day moving average price of $75.24.

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

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 57.54%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. UBS Group increased their target price on shares of Cisco Systems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Cisco Systems in a research note on Tuesday, January 27th. BNP Paribas Exane increased their target price on shares of Cisco Systems from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Zacks Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Finally, Erste Group Bank downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.55.

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.