Foster & Motley Inc. Sells 29,170 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Foster & Motley Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 172,517 shares of the network equipment provider's stock after selling 29,170 shares during the period. Foster & Motley Inc.'s holdings in Cisco Systems were worth $10,213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Highline Wealth Partners LLC boosted 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 valued at $35,000 after buying an additional 260 shares during the last quarter. Quarry LP grew its position in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after buying an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems in the third quarter worth $40,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Cisco Systems in the fourth quarter valued at $49,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Piper Sandler boosted 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. JPMorgan Chase & Co. upgraded Cisco Systems from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. UBS Group boosted their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Melius Research upgraded shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company increased their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.72.

Cisco Systems Stock Up 2.2 %

Shares of CSCO stock traded up $1.30 during trading on Thursday, hitting $60.85. 7,700,945 shares of the company were exchanged, compared to its average volume of 18,606,730. The firm has a market capitalization of $242.33 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 4.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The business's 50-day simple moving average is $59.34 and its 200 day simple moving average is $54.35. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $62.31.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share 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 the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.63%. The ex-dividend date was Friday, January 3rd. Cisco Systems's payout ratio is presently 68.67%.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares of the company's stock, valued at $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the sale, the executive vice president now directly owns 207,798 shares in the company, valued at approximately $12,299,563.62. This represents a 1.44 % 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 over the last ninety days. 0.01% of the stock is currently owned by insiders.

Cisco Systems Company 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.