Barry Investment Advisors LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,793 shares of the network equipment provider’s stock after selling 543 shares during the period. Cisco Systems accounts for approximately 2.3% of Barry Investment Advisors LLC’s holdings, making the stock its 15th largest position. Barry Investment Advisors LLC’s holdings in Cisco Systems were worth $8,521,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Costello Asset Management INC bought a new stake in Cisco Systems in the fourth quarter worth approximately $26,000. Bainco International Investors bought a new stake in Cisco Systems in the fourth quarter worth approximately $30,000. Navis Wealth Advisors LLC bought a new stake in Cisco Systems in the fourth quarter worth approximately $30,000. Goodwin Investment Advisory bought a new stake in shares of Cisco Systems during the 4th quarter worth $31,000. Finally, Defined Wealth Management LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth $34,000. 70.62% of the stock is owned by institutional investors.
Several analysts recently issued reports on CSCO shares. Wolfe Research raised shares of Cisco Systems from a “market perform” rating to an “outperform” rating and set a $63.00 price objective for the company in a report on Friday, April 16th. Raymond James upped their price objective on shares of Cisco Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, February 10th. Piper Sandler upped their price objective on shares of Cisco Systems from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, February 10th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a report on Thursday, March 11th. Finally, Credit Suisse Group upped their price objective on shares of Cisco Systems from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Wednesday, February 10th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $50.71.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.92 billion. During the same quarter in the prior year, the company posted $0.77 EPS. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Tuesday, April 6th will be paid a $0.37 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, April 5th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.86%. Cisco Systems’s dividend payout ratio is currently 50.68%.
In other Cisco Systems news, CAO Prat Bhatt sold 6,273 shares of the stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $47.21, for a total transaction of $296,148.33. Following the sale, the chief accounting officer now owns 119,282 shares of the company’s stock, valued at approximately $5,631,303.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark D. Chandler sold 3,024 shares of the stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $47.21, for a total transaction of $142,763.04. The disclosure for this sale can be found here. Insiders have sold a total of 37,776 shares of company stock valued at $1,832,205 in the last quarter. 0.02% of the stock is currently owned by corporate insiders.
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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