Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by SOL Capital Management CO

SOL Capital Management CO reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 16.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,671 shares of the network equipment provider's stock after selling 7,000 shares during the quarter. SOL Capital Management CO's holdings in Cisco Systems were worth $2,112,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CSCO. Morse Asset Management Inc purchased a new position in Cisco Systems in the 3rd quarter worth approximately $798,000. HighVista Strategies LLC bought a new position in shares of Cisco Systems in the third quarter worth approximately $1,698,000. GAMMA Investing LLC increased its stake in shares of Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider's stock worth $5,527,000 after buying an additional 10,813 shares during the period. Commerzbank Aktiengesellschaft FI boosted its position in 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 buying an additional 162,544 shares during the period. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of Cisco Systems in the third quarter worth about $502,000. Institutional investors own 73.33% of the company's stock.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares of the company's stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the company's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 over the last ninety days. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.68 on Friday, hitting $61.15. 2,304,483 shares of the company traded hands, compared to its average volume of 18,271,887. The stock has a market capitalization of $243.55 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 4.43 and a beta of 0.84. The business has a 50-day simple moving average of $59.40 and a 200 day simple moving average of $54.39. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $62.31. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during 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 firm's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. Research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.62%. Cisco Systems's dividend payout ratio is currently 68.67%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CSCO shares. Piper Sandler boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Tigress Financial lifted their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Morgan Stanley increased their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Melius raised Cisco Systems from a "hold" rating to a "buy" rating and upped their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Finally, BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective for the company in a report on Tuesday. Seven investment 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 company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $62.72.

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.