Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 34.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,203 shares of the network equipment provider's stock after selling 7,870 shares during the quarter. Main Street Financial Solutions LLC's holdings in Cisco Systems were worth $900,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CSCO. Mainstream Capital Management LLC bought a new position in shares of Cisco Systems in the 4th quarter worth about $132,000. GAMMA Investing LLC raised its holdings in shares of Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider's stock worth $5,527,000 after purchasing an additional 10,813 shares during the period. Proficio Capital Partners LLC grew its position in shares of Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Cisco Systems in the third quarter worth about $502,000. Finally, Nordea Investment Management AB raised its position in shares of Cisco Systems by 1.2% in the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider's stock worth $1,107,930,000 after buying an additional 216,632 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Rosenblatt Securities upgraded 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 report on Thursday, February 13th. StockNews.com cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 5th. Wells Fargo & Company reissued an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, Piper Sandler cut their target price on Cisco Systems from $72.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.58.

Cisco Systems Trading Down 0.1 %

NASDAQ CSCO traded down $0.04 during trading hours on Friday, reaching $55.73. The company had a trading volume of 15,874,222 shares, compared to its average volume of 20,149,900. The stock has a 50-day moving average of $60.69 and a 200 day moving average of $59.08. The company has a current ratio of 0.87, a quick ratio of 0.79 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 capitalization of $221.69 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a $0.41 dividend. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.94%. Cisco Systems's dividend payout ratio is 71.62%.

Cisco Systems announced that its board has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,547 shares of company stock valued at $4,275,553. Insiders own 0.01% of the company's stock.

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.