By otakuyassine3@gmail.com 
State of Alaska Department of Revenue lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 28.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 573,436 shares of the network equipment provider’s stock after selling 227,432 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cisco Systems were worth $33,946,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. West Financial Advisors LLC lifted its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares in the last quarter. Highline Wealth Partners LLC boosted its holdings in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Cisco Systems during the third quarter worth about $40,000. Decker Retirement Planning Inc. purchased a new position in Cisco Systems in the 4th quarter worth $49,000. Finally, Capital Performance Advisors LLP purchased a new position in Cisco Systems during the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Wall Street Analyst Weigh In
CSCO has been the topic of a number of research reports. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Tuesday, January 28th. Citigroup lifted their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. Piper Sandler raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upgraded 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 report on Monday, November 11th. Finally, Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.72.
Get Our Latest Stock Report on CSCO
Cisco Systems Stock Up 2.0 %
NASDAQ:CSCO opened at $62.57 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $59.52 and its two-hundred day moving average price is $54.77. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $62.71. The firm has a market capitalization of $249.20 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 4.51 and a beta of 0.84.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share 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 the consensus estimate of $13.78 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. Equities research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.
Cisco Systems Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid 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 2.56%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.
Insider Buying and Selling at Cisco Systems
In other news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 in the last three months. 0.01% of the stock is currently owned by company insiders.
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.
See Also
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