Intact Investment Management Inc. Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Intact Investment Management Inc. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 244,500 shares of the network equipment provider’s stock after selling 28,650 shares during the quarter. Intact Investment Management Inc.’s holdings in Cisco Systems were worth $12,352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dohj LLC grew its stake in Cisco Systems by 20.6% in the 4th quarter. Dohj LLC now owns 9,430 shares of the network equipment provider’s stock worth $476,000 after acquiring an additional 1,610 shares in the last quarter. Alexander Randolph Advisory Inc. bought a new position in Cisco Systems in the 4th quarter worth about $2,854,000. Delta Investment Management LLC grew its stake in Cisco Systems by 33.1% in the 4th quarter. Delta Investment Management LLC now owns 15,699 shares of the network equipment provider’s stock worth $793,000 after acquiring an additional 3,902 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $543,000. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of Cisco Systems by 38.5% during the fourth quarter. Citizens Financial Group Inc. RI now owns 220,201 shares of the network equipment provider’s stock valued at $11,125,000 after purchasing an additional 61,182 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CSCO shares. UBS Group increased their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Barclays increased their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Wells Fargo & Company assumed coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price for the company. Citigroup assumed coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.53.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is owned by company insiders.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.24 during trading on Friday, hitting $47.86. 14,658,910 shares of the company’s stock were exchanged, compared to its average volume of 16,851,638. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The business has a 50-day simple moving average of $48.94 and a 200-day simple moving average of $50.06. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The stock has a market capitalization of $193.79 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 2.78 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly 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. The company had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the business earned $0.76 earnings per share. On average, research analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

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

Cisco Systems Company 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.