Confluence Investment Management LLC Sells 16,419 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Confluence Investment Management LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,803,001 shares of the network equipment provider's stock after selling 16,419 shares during the period. Cisco Systems makes up 1.5% of Confluence Investment Management LLC's portfolio, making the stock its 27th largest holding. Confluence Investment Management LLC's holdings in Cisco Systems were worth $106,738,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Quarry LP grew its stake in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC grew its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 309 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the third quarter worth approximately $40,000. Capital Performance Advisors LLP acquired a new stake in shares of Cisco Systems in the third quarter valued at approximately $51,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Cisco Systems in the third quarter valued at approximately $56,000. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 86,351 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was 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 trade represents a 19.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the business's 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 owns 783,786 shares of the company's stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,522 shares of company stock valued at $20,349,721. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.10 during trading hours on Thursday, reaching $59.10. The company had a trading volume of 14,860,320 shares, compared to its average volume of 19,212,635. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The firm has a market cap of $235.38 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 4.37 and a beta of 0.85. The business has a fifty day simple moving average of $58.18 and a 200 day simple moving average of $52.53.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to analysts' expectations of $13.78 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. Cisco Systems's revenue for the quarter was down 5.6% on a year-over-year basis. On average, analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company 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. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.71%. Cisco Systems's dividend payout ratio (DPR) is presently 68.67%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CSCO shares. UBS Group raised their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Tigress Financial upped their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Barclays boosted their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Piper Sandler boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Finally, Citigroup boosted their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $60.28.

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.