CGN Advisors LLC lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 13.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,346 shares of the network equipment provider's stock after selling 8,080 shares during the quarter. CGN Advisors LLC's holdings in Cisco Systems were worth $3,158,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in CSCO. SeaCrest Wealth Management LLC boosted its holdings in shares of Cisco Systems by 0.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider's stock valued at $1,879,000 after buying an additional 178 shares in the last quarter. Aviso Wealth Management boosted its stake in Cisco Systems by 2.4% during the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider's stock worth $405,000 after acquiring an additional 181 shares in the last quarter. Waypoint Capital Advisors LLC grew its holdings in Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider's stock worth $346,000 after purchasing an additional 182 shares during the period. Andina Capital Management LLC increased its stake in shares of Cisco Systems by 3.6% during the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider's stock valued at $279,000 after purchasing an additional 182 shares in the last quarter. Finally, Wealth Dimensions Group Ltd. lifted its holdings in shares of Cisco Systems by 1.6% during the third quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider's stock valued at $605,000 after purchasing an additional 182 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.
Cisco Systems Stock Performance
Cisco Systems stock traded up $0.41 during mid-day trading on Friday, reaching $60.23. 23,800,968 shares of the stock traded hands, compared to its average volume of 17,184,370. The stock has a market capitalization of $239.88 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The business's 50-day moving average is $58.91 and its 200-day moving average is $53.57. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.95.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.
Cisco Systems Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's payout ratio is 68.67%.
Insider Transactions at Cisco Systems
In related news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company's stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. This represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 in the last three months. Corporate insiders own 0.01% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Tigress Financial upped their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. StockNews.com raised Cisco Systems from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Melius raised Cisco Systems from a "hold" rating to a "buy" rating and lifted their price target for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Finally, Piper Sandler raised their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $61.50.
Read Our Latest Stock Analysis on Cisco Systems
About Cisco Systems
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Free Report)
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.
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