Webster Bank N. A. Decreases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Webster Bank N. A. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,319 shares of the network equipment provider’s stock after selling 5,519 shares during the quarter. Webster Bank N. A.’s holdings in Cisco Systems were worth $5,406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. State Street Corp boosted its holdings in shares of Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after buying an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 buying an additional 1,677,383 shares in the last quarter. FMR LLC raised its holdings in shares of Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Cisco Systems by 1.2% during the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock valued at $1,107,930,000 after acquiring an additional 216,632 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $62.23 on Monday. The company’s 50 day moving average price is $59.22 and its 200 day moving average price is $54.14. The firm has a market capitalization of $247.85 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 4.59 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 $62.31. 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 released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same period in the previous year, the company earned $0.98 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Tigress Financial lifted their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup increased their price objective on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Morgan Stanley upped 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. Piper Sandler raised 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. Finally, Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Eight 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. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the sale, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the transaction, the executive vice president now directly owns 207,798 shares in the company, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 over the last three months. 0.01% of the stock is owned by corporate 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.