ST Germain D J Co. Inc. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 405,217 shares of the network equipment provider’s stock after selling 10,537 shares during the period. Cisco Systems accounts for about 1.1% of ST Germain D J Co. Inc.’s investment portfolio, making the stock its 20th biggest holding. ST Germain D J Co. Inc.’s holdings in Cisco Systems were worth $23,989,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Cisco Systems by 0.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,604,217 shares of the network equipment provider’s stock worth $154,170,000 after purchasing an additional 8,158 shares during the period. Watts Gwilliam & Co. LLC raised its position in shares of Cisco Systems by 1.9% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 20,126 shares of the network equipment provider’s stock worth $1,186,000 after buying an additional 375 shares in the last quarter. First Hawaiian Bank raised its position in shares of Cisco Systems by 4.6% during the 4th quarter. First Hawaiian Bank now owns 41,328 shares of the network equipment provider’s stock worth $2,447,000 after buying an additional 1,807 shares in the last quarter. InvesTrust acquired a new stake in shares of Cisco Systems in the 4th quarter worth approximately $6,140,000. Finally, Range Financial Group LLC boosted its holdings in shares of Cisco Systems by 172.4% in the fourth quarter. Range Financial Group LLC now owns 11,890 shares of the network equipment provider’s stock valued at $704,000 after acquiring an additional 7,525 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CSCO has been the subject of a number of research analyst reports. Evercore ISI upped their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Citigroup upped their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $73.00 in a report on Monday. Tigress Financial upped their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.28.
Insider Activity at Cisco Systems
In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the transaction, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 353,522 shares of company stock valued at $20,349,721. Insiders own 0.01% of the company’s stock.
Cisco Systems Stock Down 1.0 %
Cisco Systems stock traded down $0.58 during mid-day trading on Friday, hitting $58.62. The company’s stock had a trading volume of 4,044,803 shares, compared to its average volume of 14,748,052. 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, Inc. has a 52-week low of $44.50 and a 52-week high of $60.23. The firm’s 50 day moving average is $58.60 and its 200 day moving average is $53.02. The company has a market cap of $233.47 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same period last year, the company posted $0.98 earnings per share. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.
Cisco Systems Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. Cisco Systems’s dividend payout ratio is 68.67%.
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.
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