Highland Capital Management LLC Has $10.36 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Highland Capital Management LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 68.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 205,107 shares of the network equipment provider’s stock after purchasing an additional 83,481 shares during the period. Highland Capital Management LLC’s holdings in Cisco Systems were worth $10,362,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CSCO. United Bank acquired a new position in Cisco Systems during the 1st quarter worth about $645,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Cisco Systems by 32.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock worth $236,593,000 after buying an additional 1,040,607 shares in the last quarter. Roundview Capital LLC lifted its position in Cisco Systems by 13.1% during the 1st quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock worth $588,000 after buying an additional 1,221 shares in the last quarter. Merit Financial Group LLC lifted its position in Cisco Systems by 21.5% during the 1st quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock worth $656,000 after buying an additional 2,079 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Cisco Systems by 8.1% during the 1st quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock worth $135,470,000 after purchasing an additional 182,857 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were 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 a total of 19,441 shares of company stock valued at $972,080 in the last quarter. 0.02% of the stock is currently owned by insiders.

Cisco Systems Price Performance

NASDAQ CSCO opened at $49.77 on Thursday. The business has a 50 day simple moving average of $49.78 and a 200 day simple moving average of $50.94. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. 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 stock has a market cap of $201.53 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.24 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. During the same quarter in the prior year, the firm posted $0.76 EPS. The business’s revenue was down 5.9% on a year-over-year basis. Analysts anticipate that Cisco Systems, Inc. will post 3.16 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.21%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is 47.42%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wells Fargo & Company assumed coverage on Cisco Systems in a report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price objective for the company. Piper Sandler boosted their price objective on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Melius cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. UBS Group boosted their price objective on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Finally, StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.42.

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.