Kelleher Financial Advisors Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Kelleher Financial Advisors cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,204 shares of the network equipment provider’s stock after selling 2,895 shares during the quarter. Kelleher Financial Advisors’ holdings in Cisco Systems were worth $900,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morse Asset Management Inc purchased a new position in Cisco Systems during the third quarter worth $798,000. HighVista Strategies LLC bought a new position in Cisco Systems during the 3rd quarter valued at about $1,698,000. GAMMA Investing LLC raised its position in Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after purchasing an additional 162,544 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new stake in Cisco Systems in the 3rd quarter worth about $502,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CSCO shares. Morgan Stanley increased their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler increased their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Bank of America increased their price objective 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. Finally, StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 58,188 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $3,345,228.12. Following the sale, the executive vice president now owns 219,100 shares in the company, valued at $12,596,059. This trade represents a 20.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the transaction, the senior vice president now owns 51,931 shares in the company, valued at $3,101,838.63. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,522 shares of company stock valued at $20,349,721. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.0 %

Shares of Cisco Systems stock opened at $61.63 on Thursday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year 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. The firm has a fifty day moving average price of $58.99 and a 200 day moving average price of $53.81. The stock has a market cap of $245.46 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 4.48 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data 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. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.60%. Cisco Systems’s payout ratio is 68.67%.

Cisco Systems Company 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.