Foster Victor Wealth Advisors LLC Sells 77,823 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Foster Victor Wealth Advisors LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 27.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 210,156 shares of the network equipment provider's stock after selling 77,823 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in Cisco Systems were worth $12,658,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CSCO. Quarry LP raised its position in 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 purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC raised its position in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock valued at $31,000 after purchasing an additional 309 shares during the last quarter. Highline Wealth Partners LLC raised its position in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems in the third quarter valued at about $40,000. Finally, Decker Retirement Planning Inc. bought a new position in Cisco Systems in the fourth quarter valued at about $49,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Cisco Systems stock traded up $0.12 during midday trading on Wednesday, hitting $59.55. 17,898,502 shares of the company's stock were exchanged, compared to its average volume of 19,236,291. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.31. The stock has a 50-day moving average price of $59.30 and a two-hundred day moving average price of $54.32. 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 company has a market cap of $237.17 billion, a P/E ratio of 25.56, a PEG ratio of 4.59 and a beta of 0.84.

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

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems's payout ratio is 68.67%.

Insider Buying and Selling at Cisco Systems

In related news, Director Kristina M. Johnson sold 7,500 shares of the company's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now owns 65,915 shares in the company, valued at $3,946,331.05. This represents a 10.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The stock was 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 owns 207,798 shares in the company, valued at $12,299,563.62. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 in the last 90 days. Insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CSCO. Melius Research upgraded Cisco Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Melius raised Cisco Systems from a "hold" rating to a "buy" rating and increased their price target for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Piper Sandler increased their price target on Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price target on Cisco Systems from $57.00 to $60.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Finally, BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price target for the company in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $62.72.

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.