Thompson Investment Management Inc. Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Thompson Investment Management Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,666 shares of the network equipment provider’s stock after selling 1,582 shares during the period. Cisco Systems accounts for approximately 1.5% of Thompson Investment Management Inc.’s portfolio, making the stock its 14th largest position. Thompson Investment Management Inc.’s holdings in Cisco Systems were worth $10,163,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Entropy Technologies LP purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $3,836,000. Empowered Funds LLC boosted its holdings in shares of Cisco Systems by 5.8% during the fourth quarter. Empowered Funds LLC now owns 449,442 shares of the network equipment provider’s stock worth $26,607,000 after purchasing an additional 24,612 shares during the period. Moloney Securities Asset Management LLC boosted its holdings in shares of Cisco Systems by 0.7% during the fourth quarter. Moloney Securities Asset Management LLC now owns 66,507 shares of the network equipment provider’s stock worth $3,937,000 after purchasing an additional 452 shares during the period. D Orazio & Associates Inc. boosted its holdings in shares of Cisco Systems by 4.4% during the fourth quarter. D Orazio & Associates Inc. now owns 10,019 shares of the network equipment provider’s stock worth $593,000 after purchasing an additional 422 shares during the period. Finally, Apollon Wealth Management LLC boosted its holdings in shares of Cisco Systems by 6.7% during the fourth quarter. Apollon Wealth Management LLC now owns 152,605 shares of the network equipment provider’s stock worth $9,034,000 after purchasing an additional 9,518 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Deborah L. Stahlkopf sold 58,188 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $3,345,228.12. Following the sale, the executive vice president now owns 219,100 shares in the company, valued at approximately $12,596,059. This trade represents a 20.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 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 $9,873,562.56. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

Shares of CSCO opened at $62.27 on Friday. The company has a market capitalization of $248.01 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. 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 firm has a 50 day moving average of $59.71 and a 200 day moving average of $54.98. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $63.25.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.98 earnings per share. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSCO. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Piper Sandler raised 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. Bank of America raised their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Finally, Morgan Stanley raised their price objective 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. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.