Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Cable Hill Partners LLC

Cable Hill Partners LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,793 shares of the network equipment provider’s stock after selling 517 shares during the quarter. Cable Hill Partners LLC’s holdings in Cisco Systems were worth $1,053,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems during the fourth quarter valued at about $26,000. Highline Wealth Partners LLC grew its position in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems during the 3rd quarter valued at approximately $40,000. Decker Retirement Planning Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth $49,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Cisco Systems during the third quarter worth $51,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kristina M. Johnson sold 7,500 shares of the business’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 of the company’s stock, valued at $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,848 shares of company stock worth $4,767,206. Insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Bank of America increased their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group lifted their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Piper Sandler increased their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Seven research 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.53.

Cisco Systems Trading Down 0.3 %

Shares of CSCO stock opened at $64.08 on Thursday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a market cap of $254.93 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 4.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The stock has a 50 day simple moving average of $61.00 and a 200-day simple moving average of $56.61.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its board has authorized a share repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.56%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is presently 71.62%.

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.