Leuthold Group LLC Has $5.02 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Leuthold Group LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 105,665 shares of the network equipment provider’s stock after selling 945 shares during the period. Leuthold Group LLC’s holdings in Cisco Systems were worth $5,020,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Swedbank AB bought a new stake in Cisco Systems during the first quarter valued at about $840,538,000. FIL Ltd grew its stake in Cisco Systems by 47.1% during the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after buying an additional 6,054,748 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after purchasing an additional 4,843,146 shares in the last quarter. Natixis increased its position in Cisco Systems by 438.4% in the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after acquiring an additional 4,010,228 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Cisco Systems by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after purchasing an additional 3,314,330 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.1 %

Shares of Cisco Systems stock opened at $50.57 on Thursday. The stock has a market cap of $203.74 billion, a P/E ratio of 17.03, a P/E/G ratio of 3.87 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $56.21. The business’s 50 day moving average is $48.33 and its 200-day moving average is $48.01.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is presently 53.87%.

Wall Street Analyst Weigh In

A number of analysts have commented on CSCO shares. Rosenblatt Securities lifted their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Finally, StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.89.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at $6,821,929.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. 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.