Royal London Asset Management Ltd. Buys 165,011 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Royal London Asset Management Ltd. grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,168,932 shares of the network equipment provider’s stock after acquiring an additional 165,011 shares during the period. Royal London Asset Management Ltd.’s holdings in Cisco Systems were worth $160,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mcintyre Freedman & Flynn Investment Advisers Inc. increased its position in Cisco Systems by 0.3% during the 4th quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock worth $3,019,000 after purchasing an additional 202 shares during the period. Hyman Charles D increased its position in Cisco Systems by 0.3% during the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock worth $3,573,000 after purchasing an additional 203 shares during the period. Madrona Financial Services LLC increased its position in Cisco Systems by 2.4% during the 4th quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock worth $453,000 after purchasing an additional 207 shares during the period. Morton Brown Family Wealth LLC increased its position in Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the period. Finally, River Street Advisors LLC increased its position in Cisco Systems by 1.7% during the 4th quarter. River Street Advisors LLC now owns 12,921 shares of the network equipment provider’s stock worth $653,000 after purchasing an additional 219 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 26,331 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock worth $1,908,923 in the last ninety days. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research note on Monday, May 13th. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. Piper Sandler reissued a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Wednesday, June 5th. Oppenheimer boosted their price target on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Finally, Barclays boosted their price target on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Cisco Systems has an average rating of “Hold” and an average price target of $56.47.

Cisco Systems Trading Up 0.4 %

Shares of Cisco Systems stock traded up $0.16 during trading hours on Friday, reaching $45.68. 15,274,176 shares of the company’s stock were exchanged, compared to its average volume of 19,183,470. Cisco Systems, Inc. has a 52-week low of $44.97 and a 52-week high of $58.19. The firm has a market capitalization of $184.04 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 2.64 and a beta of 0.85. The company has a fifty day moving average of $47.41 and a 200-day moving average of $48.89. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the prior year, the company posted $0.88 EPS. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.50%. Cisco Systems’s payout ratio is 53.87%.

Cisco Systems 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.