Sanibel Captiva Trust Company Inc. Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Sanibel Captiva Trust Company Inc. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,857 shares of the network equipment provider's stock after selling 5,934 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Cisco Systems were worth $6,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Cisco Systems by 59.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider's stock worth $36,847,000 after buying an additional 288,775 shares in the last quarter. Morse Asset Management Inc acquired a new position in Cisco Systems during the third quarter worth about $798,000. HighVista Strategies LLC bought a new position in shares of Cisco Systems in the third quarter worth about $1,698,000. GAMMA Investing LLC boosted its stake 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 valued at $5,527,000 after purchasing an additional 10,813 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in shares of Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider's stock valued at $88,261,000 after purchasing an additional 162,544 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Trading Up 0.7 %

Shares of Cisco Systems stock traded up $0.41 on Friday, hitting $60.23. 23,800,968 shares of the company's stock traded hands, compared to its average volume of 17,184,370. The company has a fifty day moving average of $58.91 and a two-hundred day moving average of $53.57. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.95. The company has a market capitalization of $239.88 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company'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 earned $0.98 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

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

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now owns 213,834 shares of the company's stock, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the sale, the chief financial officer now directly owns 365,314 shares of the company's stock, valued at $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CSCO has been the subject of several research reports. 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. Piper Sandler raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Barclays boosted their price objective on Cisco Systems from $49.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Melius upgraded Cisco Systems from a "hold" rating to a "buy" rating and increased their target price for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Finally, UBS Group boosted their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.50.

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.