Stonebridge Capital Management Inc. Sells 550 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Stonebridge Capital Management Inc. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,795 shares of the network equipment provider’s stock after selling 550 shares during the quarter. Cisco Systems accounts for 2.2% of Stonebridge Capital Management Inc.’s holdings, making the stock its 15th biggest position. Stonebridge Capital Management Inc.’s holdings in Cisco Systems were worth $5,375,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Cisco Systems by 327.5% in the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after buying an additional 5,223,800 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Cisco Systems by 5,231.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after buying an additional 4,842,542 shares during the last quarter. National Bank of Canada FI raised its stake in Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after acquiring an additional 3,975,028 shares during the period. Finally, State Street Corp raised its stake in Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after acquiring an additional 3,241,682 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $59.98 on Thursday. The stock has a market capitalization of $238.89 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.34. The stock’s 50 day moving average price is $58.79 and its two-hundred day moving average price is $53.34. 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 posted its quarterly 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 period in the prior year, the business earned $0.98 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Piper Sandler increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Tigress Financial increased their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company increased their price objective on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.28.

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the transaction, the director now owns 65,915 shares of the company’s stock, valued at $3,946,331.05. The trade was a 10.22 % decrease in their position. 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 insiders.

About Cisco Systems

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.