Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Old Port Advisors

Old Port Advisors trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,316 shares of the network equipment provider’s stock after selling 255 shares during the quarter. Cisco Systems makes up 1.0% of Old Port Advisors’ holdings, making the stock its 21st largest holding. Old Port Advisors’ holdings in Cisco Systems were worth $3,334,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Legacy Wealth Management LLC MS acquired a new position in shares of Cisco Systems in the 3rd quarter valued at about $206,000. Birmingham Capital Management Co. Inc. AL increased its stake in Cisco Systems by 9.7% in the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 22,320 shares of the network equipment provider’s stock valued at $1,188,000 after buying an additional 1,970 shares during the period. Logan Capital Management Inc. lifted its position in Cisco Systems by 10.1% in the 3rd quarter. Logan Capital Management Inc. now owns 295,303 shares of the network equipment provider’s stock worth $15,716,000 after buying an additional 27,175 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Cisco Systems by 3.7% during the 3rd quarter. Retirement Systems of Alabama now owns 3,038,015 shares of the network equipment provider’s stock valued at $161,683,000 after buying an additional 109,772 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of Cisco Systems during the 3rd quarter valued at $502,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of CSCO traded up $0.19 during mid-day trading on Thursday, hitting $59.39. The company’s stock had a trading volume of 3,995,331 shares, compared to its average volume of 19,212,635. The stock’s 50-day moving average is $58.18 and its two-hundred day moving average is $52.53. The firm has a market capitalization of $236.54 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 4.37 and a beta of 0.85. 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, Inc. has a one year low of $44.50 and a one year high of $60.23.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s 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. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.69%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Transactions at Cisco Systems

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Evercore ISI lifted their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. UBS Group increased their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Bank of America lifted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Barclays raised their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

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.