Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Davis Capital Management

Davis Capital Management cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,727 shares of the network equipment provider’s stock after selling 345 shares during the period. Cisco Systems comprises about 1.6% of Davis Capital Management’s investment portfolio, making the stock its 15th biggest holding. Davis Capital Management’s holdings in Cisco Systems were worth $1,997,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CSCO. Quarry LP lifted its holdings in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC lifted its holdings in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the last quarter. Highline Wealth Partners LLC lifted its holdings in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems in the third quarter worth about $40,000. Finally, Decker Retirement Planning Inc. bought a new position in Cisco Systems in the fourth quarter worth about $49,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $61.03 on Wednesday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $61.33. The stock has a market cap of $243.07 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 4.48 and a beta of 0.84. The stock’s 50 day moving average price is $58.94 and its 200 day moving average price is $53.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly 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 firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.62%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insiders Place Their Bets

In other Cisco Systems 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 transaction of $4,964,318.99. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the sale, the executive vice president now directly owns 207,798 shares in the company, valued at approximately $12,299,563.62. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSCO. Morgan Stanley raised their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Tigress Financial lifted their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. UBS Group lifted their price target on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Citigroup lifted their price target on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

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.