Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by D.B. Root & Company LLC

D.B. Root & Company LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,610 shares of the network equipment provider’s stock after selling 296 shares during the period. D.B. Root & Company LLC’s holdings in Cisco Systems were worth $687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Public Sector Pension Investment Board boosted its position in Cisco Systems by 72.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 155,624 shares of the network equipment provider’s stock worth $7,394,000 after acquiring an additional 65,124 shares during the period. Sfmg LLC grew its position in Cisco Systems by 1.6% during the second quarter. Sfmg LLC now owns 111,785 shares of the network equipment provider’s stock valued at $5,311,000 after purchasing an additional 1,756 shares in the last quarter. Fred Alger Management LLC grew its position in Cisco Systems by 5.8% during the second quarter. Fred Alger Management LLC now owns 100,310 shares of the network equipment provider’s stock valued at $4,766,000 after purchasing an additional 5,471 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Cisco Systems in the second quarter worth $2,269,000. Finally, Alley Investment Management Company LLC raised its stake in shares of Cisco Systems by 1.3% during the 2nd quarter. Alley Investment Management Company LLC now owns 102,293 shares of the network equipment provider’s stock worth $4,860,000 after purchasing an additional 1,290 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSCO. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. UBS Group lifted their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Morgan Stanley increased their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Piper Sandler boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Cisco Systems Stock Performance

CSCO stock opened at $61.63 on Thursday. The company has a 50 day moving average price of $59.04 and a 200 day moving average price of $53.86. The stock has a market capitalization of $245.46 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 4.54 and a beta of 0.84. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $61.76. 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 (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter last year, the business earned $0.98 earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. Analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.60%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the sale, the senior vice president now directly owns 50,767 shares in the company, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the transaction, the executive vice president now owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is 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. 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.