Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Forsta AP Fonden

Forsta AP Fonden reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 986,200 shares of the network equipment provider’s stock after selling 28,800 shares during the quarter. Forsta AP Fonden’s holdings in Cisco Systems were worth $58,383,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CSCO. West Financial Advisors LLC lifted its stake 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 valued at $31,000 after buying an additional 309 shares during the last quarter. Highline Wealth Partners LLC increased 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 worth $35,000 after acquiring an additional 260 shares during the period. Quarry LP lifted its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems during the 3rd quarter valued at about $40,000. Finally, Decker Retirement Planning Inc. bought a new position in Cisco Systems in the 4th quarter worth about $49,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.6 %

Shares of Cisco Systems stock opened at $59.43 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $62.31. The firm has a market capitalization of $236.70 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 4.59 and a beta of 0.84. The stock’s fifty day moving average is $59.30 and its 200-day moving average is $54.32.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. Equities analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio is 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 dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the sale, the executive vice president now owns 219,100 shares of the company’s stock, valued at approximately $12,596,059. This represents a 20.98 % 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.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CSCO. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Tigress Financial boosted their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Piper Sandler upped their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $62.72.

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.