Diversify Advisory Services LLC Sells 18,382 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Diversify Advisory Services LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 20.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,835 shares of the network equipment provider's stock after selling 18,382 shares during the period. Diversify Advisory Services LLC's holdings in Cisco Systems were worth $4,102,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider's stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the period. Geode Capital Management LLC boosted its position in shares of Cisco Systems by 1.3% in the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider's stock worth $5,075,320,000 after buying an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider's stock valued at $4,402,239,000 after buying an additional 1,677,383 shares in the last quarter. FMR LLC raised its position in Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the period. Finally, Legal & General Group Plc boosted its position in Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider's stock worth $2,261,185,000 after acquiring an additional 1,530,468 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CSCO. Melius raised shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their price target for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Piper Sandler increased their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. StockNews.com upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Citigroup lifted their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a "buy" rating in a research report on Friday. Finally, Bank of America upped their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and a consensus target price of $61.50.

Insider Activity at Cisco Systems

In other news, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the sale, the director now owns 65,915 shares of the company's stock, valued at approximately $3,946,331.05. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares of the company's stock, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 in the last ninety days. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

CSCO traded up $0.41 during trading on Monday, hitting $60.23. The stock had a trading volume of 23,800,968 shares, compared to its average volume of 17,184,370. The firm has a market cap of $239.88 billion, a PE ratio of 25.85, a P/E/G ratio of 4.37 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 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 $60.95. The company has a 50 day simple moving average of $58.91 and a 200-day simple moving average of $53.61.

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

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors 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 yield of 2.66%. The ex-dividend date is Friday, January 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 68.67%.

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.