Independent Advisor Alliance Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Independent Advisor Alliance lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 73,183 shares of the network equipment provider’s stock after selling 1,186 shares during the quarter. Independent Advisor Alliance’s holdings in Cisco Systems were worth $3,895,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CSCO. Charles Schwab Investment Management Inc. increased its holdings in shares of Cisco Systems by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after acquiring an additional 1,677,383 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Cisco Systems by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after acquiring an additional 1,853,598 shares during the period. Legal & General Group Plc increased its holdings in shares of Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after acquiring an additional 4,843,146 shares during the period. Finally, Swedbank AB acquired a new position in Cisco Systems in the 1st quarter valued at $840,538,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 342,858 shares of company stock worth $19,661,157. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $58.74 on Tuesday. The firm has a market cap of $233.95 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 4.37 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average is $55.17 and its two-hundred day moving average is $50.24. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. Research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Analysts Set New Price Targets

Several brokerages have issued reports on CSCO. Piper Sandler boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Barclays boosted their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, August 15th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

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.