Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by DDD Partners LLC

DDD Partners LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 401,555 shares of the network equipment provider's stock after selling 11,254 shares during the quarter. Cisco Systems accounts for 2.9% of DDD Partners LLC's investment portfolio, making the stock its 6th largest holding. DDD Partners LLC's holdings in Cisco Systems were worth $23,772,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Highline Wealth Partners LLC grew its stake in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock worth $35,000 after purchasing an additional 260 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems during the 3rd quarter worth $40,000. Decker Retirement Planning Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth $49,000. Capital Performance Advisors LLP acquired a new position in shares of Cisco Systems during the 3rd quarter worth $51,000. Finally, FSA Wealth Management LLC acquired a new stake in Cisco Systems in the 3rd quarter valued at about $56,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of research reports. Rosenblatt Securities raised shares of Cisco Systems from a "neutral" rating to a "buy" rating and increased their price objective for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. Citigroup increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Melius raised shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Bank of America increased their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, Piper Sandler increased their price objective on shares of Cisco Systems from $57.00 to $72.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $66.53.

Cisco Systems Trading Down 0.3 %

Shares of CSCO traded down $0.17 during mid-day trading on Thursday, hitting $64.67. The company had a trading volume of 14,823,623 shares, compared to its average volume of 19,789,303. The business's 50-day simple moving average is $60.43 and its 200-day simple moving average is $55.95. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The stock has a market cap of $257.57 billion, a PE ratio of 28.24, a P/E/G ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.54%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems's payout ratio is 69.87%.

Cisco Systems declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Scott Herren sold 19,929 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the sale, the chief financial officer now owns 335,605 shares of the company's stock, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,921 shares of company stock valued at $4,298,667. Corporate insiders own 0.01% of the company's stock.

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.