Burns J W & Co. Inc. NY Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Burns J W & Co. Inc. NY cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,775 shares of the network equipment provider’s stock after selling 250 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Cisco Systems were worth $638,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quarry LP boosted its stake in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the last quarter. Highline Wealth Partners LLC increased 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 valued at $35,000 after buying an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems in the third quarter worth about $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Cisco Systems during the third quarter worth about $51,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

Shares of CSCO traded up $0.02 during mid-day trading on Monday, hitting $58.76. 19,328,440 shares of the company were exchanged, compared to its average volume of 15,977,398. The stock has a market cap of $234.03 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.23. The company has a 50 day moving average of $58.67 and a 200-day moving average of $53.18. 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) last released its 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 for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid 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 yield of 2.72%. Cisco Systems’s dividend payout ratio is presently 68.67%.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction that occurred 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 directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the sale, the director now owns 65,915 shares in the company, valued at $3,946,331.05. This represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of several research analyst reports. Bank of America boosted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. UBS Group lifted their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Piper Sandler increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Citigroup lifted their target price on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Tigress Financial raised their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.28.

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.