Addenda Capital Inc. Trims Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Addenda Capital Inc. trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,170 shares of the network equipment provider’s stock after selling 331 shares during the period. Addenda Capital Inc.’s holdings in Cisco Systems were worth $5,893,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Valued Wealth Advisors LLC acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $32,000. Delos Wealth Advisors LLC grew its holdings in Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares during the period. DiNuzzo Private Wealth Inc. acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $33,000. Morton Brown Family Wealth LLC boosted its stake in shares of Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC boosted its stake in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 700 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSCO has been the topic of a number of research analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Wednesday, June 5th. Barclays lifted their price target on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research report on Monday, May 13th. Finally, Wells Fargo & Company lifted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.47.

Insider Buying and Selling

In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock valued at $1,908,923 in the last three months. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

CSCO stock opened at $47.51 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $191.41 billion, a PE ratio of 16.00, a P/E/G ratio of 2.75 and a beta of 0.85. Cisco Systems, Inc. has a 12-month low of $44.95 and a 12-month high of $58.19. The business’s fifty day moving average price is $47.06 and its 200 day moving average price is $48.79.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.37%. Cisco Systems’s payout ratio is 53.87%.

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.