Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% in the fourth quarter, HoldingsChannel reports. The fund owned 25,816 shares of the network equipment provider’s stock after selling 449 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Cisco Systems were worth $1,528,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Morse Asset Management Inc purchased a new position in Cisco Systems during the third quarter worth approximately $798,000. HighVista Strategies LLC acquired a new stake in Cisco Systems in the 3rd quarter worth about $1,698,000. GAMMA Investing LLC raised its stake in Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after purchasing an additional 10,813 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Cisco Systems during the 3rd quarter worth approximately $502,000. Finally, Quintet Private Bank Europe S.A. lifted its position in Cisco Systems by 17.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock worth $33,830,000 after buying an additional 92,179 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 0.5 %

NASDAQ:CSCO opened at $64.14 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock has a market cap of $255.15 billion, a P/E ratio of 28.01, a P/E/G ratio of 4.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a 50-day simple moving average of $61.23 and a 200-day simple moving average of $56.79.

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

Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. Cisco Systems’s dividend payout ratio is 71.62%.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the completion of the transaction, the executive vice president now directly owns 200,191 shares of the company’s stock, valued at approximately $12,886,294.67. This represents a 5.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the sale, the executive vice president now 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. Insiders have sold a total of 74,848 shares of company stock valued at $4,767,206 over the last quarter. 0.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CSCO shares. Piper Sandler upped their target price on Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Barclays boosted their price objective on shares of Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group lifted their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

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.