By otakuyassine3@gmail.com 
abrdn plc lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 5.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,829,484 shares of the network equipment provider’s stock after selling 334,361 shares during the period. Cisco Systems makes up about 0.6% of abrdn plc’s investment portfolio, making the stock its 23rd largest position. abrdn plc’s holdings in Cisco Systems were worth $343,444,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in CSCO. Quarry LP increased its holdings in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the period. Czech National Bank increased its holdings in shares of Cisco Systems by 6.4% during the third quarter. Czech National Bank now owns 820,712 shares of the network equipment provider’s stock worth $43,678,000 after purchasing an additional 49,100 shares during the period. GAMMA Investing LLC increased its holdings in shares of Cisco Systems by 19.4% during the third quarter. GAMMA Investing LLC now owns 82,544 shares of the network equipment provider’s stock worth $4,393,000 after purchasing an additional 13,406 shares during the period. Azzad Asset Management Inc. ADV increased its holdings in shares of Cisco Systems by 2.3% during the third quarter. Azzad Asset Management Inc. ADV now owns 39,516 shares of the network equipment provider’s stock worth $2,103,000 after purchasing an additional 907 shares during the period. Finally, Diversified Trust Co increased its stake in Cisco Systems by 3.6% in the third quarter. Diversified Trust Co now owns 51,885 shares of the network equipment provider’s stock valued at $2,761,000 after acquiring an additional 1,827 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.
Insider Activity
In related news, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the transaction, the senior vice president now owns 51,931 shares in the company, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the transaction, the executive vice president now owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. This represents 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. Insiders own 0.01% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Citigroup lifted their price objective on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, January 17th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their target price for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.72.
View Our Latest Stock Analysis on Cisco Systems
Cisco Systems Trading Up 0.7 %
NASDAQ:CSCO opened at $61.04 on Tuesday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $62.31. 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 company’s 50-day simple moving average is $59.44 and its 200 day simple moving average is $54.58. The firm has a market capitalization of $243.11 billion, a P/E ratio of 26.20, a PEG ratio of 4.51 and a beta of 0.84.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its earnings results 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. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.
Cisco Systems Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.62%. Cisco Systems’s payout ratio is 68.67%.
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.
Further Reading
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