Morton Capital Management LLC CA Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Morton Capital Management LLC CA cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,029 shares of the network equipment provider’s stock after selling 297 shares during the period. Cisco Systems comprises approximately 0.6% of Morton Capital Management LLC CA’s portfolio, making the stock its 19th largest position. Morton Capital Management LLC CA’s holdings in Cisco Systems were worth $1,871,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wealth Dimensions Group Ltd. lifted its position in Cisco Systems by 1.4% during the second quarter. Wealth Dimensions Group Ltd. now owns 13,401 shares of the network equipment provider’s stock valued at $693,000 after acquiring an additional 188 shares during the last quarter. Strong Tower Advisory Services lifted its position in Cisco Systems by 1.3% during the third quarter. Strong Tower Advisory Services now owns 14,831 shares of the network equipment provider’s stock valued at $797,000 after acquiring an additional 190 shares during the last quarter. Richard W. Paul & Associates LLC lifted its position in Cisco Systems by 0.9% during the third quarter. Richard W. Paul & Associates LLC now owns 20,996 shares of the network equipment provider’s stock valued at $1,129,000 after acquiring an additional 191 shares during the last quarter. Cassia Capital Partners LLC lifted its position in Cisco Systems by 1.4% during the third quarter. Cassia Capital Partners LLC now owns 13,950 shares of the network equipment provider’s stock valued at $750,000 after acquiring an additional 191 shares during the last quarter. Finally, Waddell & Associates LLC lifted its position in Cisco Systems by 0.8% during the third quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock valued at $1,328,000 after acquiring an additional 191 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following 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 legal filing with the SEC, which is accessible through this link. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,441 shares of company stock valued at $972,080. Corporate insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CSCO shares. UBS Group upped their price target 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. Wells Fargo & Company started coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target on the stock. Melius Research restated a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research note on Monday, January 8th. Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Piper Sandler increased their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.42.

Cisco Systems Price Performance

CSCO traded up $0.22 during midday trading on Wednesday, hitting $49.77. 17,230,482 shares of the company traded hands, compared to its average volume of 19,896,768. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $201.53 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 2.25 and a beta of 0.87. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The business has a 50 day simple moving average of $49.78 and a two-hundred day simple moving average of $50.94.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company’s revenue was down 5.9% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. On average, equities analysts forecast 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 paid a $0.40 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 47.42%.

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.