Symphony Financial Ltd. Co. Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Symphony Financial Ltd. Co. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,062 shares of the network equipment provider’s stock after selling 984 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Cisco Systems were worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CSCO. Quarry LP boosted its holdings in shares of 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 acquiring an additional 456 shares during the last quarter. Centaurus Financial Inc. lifted its position in Cisco Systems by 98.6% during the second quarter. Centaurus Financial Inc. now owns 34,247 shares of the network equipment provider’s stock valued at $1,627,000 after purchasing an additional 17,000 shares during the period. Czech National Bank boosted its holdings in Cisco Systems by 6.4% in the third quarter. Czech National Bank now owns 820,712 shares of the network equipment provider’s stock valued at $43,678,000 after purchasing an additional 49,100 shares during the last quarter. Farmers Trust Co. grew its position in Cisco Systems by 1.6% during the 3rd quarter. Farmers Trust Co. now owns 177,147 shares of the network equipment provider’s stock worth $9,428,000 after purchasing an additional 2,737 shares during the period. Finally, Canandaigua National Bank & Trust Co. raised its stake in shares of Cisco Systems by 2.4% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 110,346 shares of the network equipment provider’s stock valued at $5,873,000 after buying an additional 2,586 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.2 %

Shares of NASDAQ CSCO opened at $60.60 on Friday. The stock has a market cap of $241.36 billion, a PE ratio of 26.01, a P/E/G ratio of 4.43 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 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 company has a 50-day moving average of $59.44 and a 200 day moving average of $54.49.

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, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a dividend of $0.40 per share. The ex-dividend date was Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.64%. Cisco Systems’s payout ratio is 68.67%.

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the business’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 sale, the senior vice president now owns 50,767 shares in the company, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by company insiders.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent research reports. Piper Sandler upped their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. UBS Group boosted their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.