Journey Advisory Group LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,349 shares of the network equipment provider's stock after selling 249 shares during the quarter. Journey Advisory Group LLC's holdings in Cisco Systems were worth $255,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter valued at approximately $231,000. Grimes & Company Inc. boosted its position in Cisco Systems by 3.3% during the 3rd quarter. Grimes & Company Inc. now owns 491,646 shares of the network equipment provider's stock worth $19,666,000 after purchasing an additional 15,808 shares during the period. Renaissance Group LLC boosted its position in Cisco Systems by 1.2% during the 3rd quarter. Renaissance Group LLC now owns 21,616 shares of the network equipment provider's stock worth $865,000 after purchasing an additional 248 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Cisco Systems by 1.3% in the 3rd quarter. Gamco Investors INC. ET AL now owns 19,873 shares of the network equipment provider's stock worth $795,000 after buying an additional 250 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in Cisco Systems by 10.9% in the 3rd quarter. CENTRAL TRUST Co now owns 131,164 shares of the network equipment provider's stock worth $5,247,000 after buying an additional 12,848 shares in the last quarter. Hedge funds and other institutional investors own 71.10% of the company's stock.
Get Cisco Systems alerts:Analyst Upgrades and Downgrades
CSCO has been the topic of a number of recent analyst reports. Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, February 16th. Loop Capital boosted their price objective on shares of Cisco Systems from $65.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, February 16th. Piper Sandler upped their target price on shares of Cisco Systems from $49.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, February 16th. Morgan Stanley upped their target price on shares of Cisco Systems from $52.00 to $55.00 and gave the company an "equal weight" rating in a research note on Thursday, February 16th. Finally, DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and set a $58.00 target price on the stock in a research note on Friday, February 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $56.38.
Insiders Place Their Bets
In other Cisco Systems news, SVP Prat Bhatt sold 608 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $48.74, for a total value of $29,633.92. Following the completion of the sale, the senior vice president now owns 50,162 shares in the company, valued at approximately $2,444,895.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Deborah L. Stahlkopf sold 3,142 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $48.78, for a total transaction of $153,266.76. Following the transaction, the executive vice president now owns 180,697 shares in the company, valued at approximately $8,814,399.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prat Bhatt sold 608 shares of the firm's stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $48.74, for a total transaction of $29,633.92. Following the completion of the sale, the senior vice president now owns 50,162 shares in the company, valued at $2,444,895.88. The disclosure for this sale can be found here. Insiders sold a total of 47,568 shares of company stock worth $2,376,624 in the last quarter. 0.02% of the stock is currently owned by corporate insiders.
Cisco Systems Stock Down 2.1 %
Shares of NASDAQ:CSCO opened at $46.36 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.30 and a current ratio of 1.41. The company has a market cap of $189.88 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 2.15 and a beta of 1.00. Cisco Systems, Inc. has a 52 week low of $38.60 and a 52 week high of $52.56. The firm has a 50 day simple moving average of $49.43 and a 200 day simple moving average of $47.99.
Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.76 by $0.12. The business had revenue of $13.59 billion during the quarter, compared to the consensus estimate of $13.41 billion. Cisco Systems had a net margin of 21.26% and a return on equity of 31.19%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, research analysts expect that Cisco Systems, Inc. will post 3.33 earnings per share for the current year.
Cisco Systems Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 26th. Shareholders of record on Wednesday, April 5th were given a $0.39 dividend. This is an increase from Cisco Systems's previous quarterly dividend of $0.38. The ex-dividend date was Tuesday, April 4th. This represents a $1.56 dividend on an annualized basis and a yield of 3.36%. Cisco Systems's dividend payout ratio is presently 57.14%.
Cisco Systems Company Profile
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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
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