Fort Sheridan Advisors LLC Sells 1,098 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fort Sheridan Advisors LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% in the fourth quarter, HoldingsChannel reports. The fund owned 41,344 shares of the network equipment provider’s stock after selling 1,098 shares during the period. Fort Sheridan Advisors LLC’s holdings in Cisco Systems were worth $2,448,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. FMR LLC increased its stake in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the period. Two Sigma Advisers LP boosted its holdings in Cisco Systems by 327.5% in the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after acquiring an additional 5,223,800 shares during the last quarter. National Bank of Canada FI increased its position in Cisco Systems by 79.6% in the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after purchasing an additional 3,975,028 shares during the period. State Street Corp raised its holdings in Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Cisco Systems by 87.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,541,607 shares of the network equipment provider’s stock valued at $294,923,000 after purchasing an additional 2,591,684 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the transaction, the executive vice president now owns 200,191 shares of the company’s stock, valued at approximately $12,886,294.67. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,848 shares of company stock valued at $4,767,206 over the last 90 days. 0.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CSCO has been the subject of a number of recent research reports. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research report on Tuesday, January 28th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. Piper Sandler upped their price objective on Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Citigroup raised their target price on Cisco Systems from $71.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.63.

Cisco Systems Trading Down 0.4 %

CSCO opened at $63.81 on Friday. The firm’s fifty day simple moving average is $61.12 and its 200 day simple moving average is $56.66. The stock has a market capitalization of $253.85 billion, a P/E ratio of 27.86, a P/E/G ratio of 4.16 and a beta of 0.84. The company has a current ratio of 0.87, a quick ratio of 0.79 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 $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.57%. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

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.