RNC Capital Management LLC Has $50.36 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

RNC Capital Management LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 996,855 shares of the network equipment provider’s stock after selling 36,391 shares during the quarter. Cisco Systems accounts for 3.0% of RNC Capital Management LLC’s portfolio, making the stock its 10th largest position. RNC Capital Management LLC’s holdings in Cisco Systems were worth $50,361,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Kathleen S. Wright Associates Inc. purchased a new position in Cisco Systems in the 3rd quarter worth approximately $27,000. Valued Wealth Advisors LLC purchased a new position in Cisco Systems in the 4th quarter worth approximately $32,000. Fortis Capital Advisors LLC purchased a new position in Cisco Systems in the 4th quarter worth approximately $34,000. Hibernia Wealth Partners LLC purchased a new position in Cisco Systems in the 3rd quarter worth approximately $42,000. Finally, VitalStone Financial LLC purchased a new position in shares of Cisco Systems during the second quarter valued at approximately $45,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.4 %

Cisco Systems stock opened at $49.77 on Thursday. The company has a market capitalization of $201.53 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 2.25 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The business’s fifty day simple moving average is $49.78 and its two-hundred day simple moving average is $50.94.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.16 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be issued a dividend of $0.40 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is presently 48.63%.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of 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 hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The stock was 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 of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CSCO has been the topic of several research analyst reports. Wells Fargo & Company initiated coverage on Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price on the stock. Barclays boosted their target price on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Piper Sandler upped their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Melius Research reaffirmed a “hold” rating and issued a $55.00 price target on shares of Cisco Systems in a research note on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.42.

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.