Mogy Joel R Investment Counsel Inc. Has $8.78 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Mogy Joel R Investment Counsel Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 173,806 shares of the network equipment provider’s stock after selling 6,166 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in Cisco Systems were worth $8,781,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CSCO. California Public Employees Retirement System increased its stake in shares of Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after purchasing an additional 3,753,165 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Cisco Systems in the third quarter worth about $179,207,000. Capital Wealth Planning LLC increased its stake in shares of Cisco Systems by 7,074.3% in the third quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock worth $175,883,000 after purchasing an additional 3,226,040 shares during the period. Pacer Advisors Inc. increased its stake in shares of Cisco Systems by 32.7% in the fourth quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock worth $391,498,000 after purchasing an additional 1,909,597 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Cisco Systems by 3.8% in the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after purchasing an additional 1,847,682 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Citigroup initiated coverage on Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price on the stock. Wells Fargo & Company initiated coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective for the company. Finally, Piper Sandler boosted their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $55.53.

Cisco Systems Trading Down 0.5 %

Shares of Cisco Systems stock traded down $0.24 on Friday, hitting $47.86. 14,658,910 shares of the company’s stock traded hands, compared to its average volume of 16,851,638. The firm’s 50-day moving average price is $48.94 and its two-hundred day moving average price is $50.06. The stock has a market capitalization of $193.79 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter in the previous year, the company posted $0.76 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, research analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were issued a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.34%. Cisco Systems’s payout ratio is 48.63%.

Insider Activity

In other news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 in the last quarter. Company insiders own 0.02% of the company’s stock.

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.