Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,803,001 shares of the network equipment provider’s stock after selling 16,419 shares during the period. Cisco Systems makes up 1.5% of Confluence Investment Management LLC’s investment portfolio, making the stock its 27th largest holding. Confluence Investment Management LLC’s holdings in Cisco Systems were worth $106,738,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. State Street Corp raised its stake in shares of 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 buying an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after acquiring an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. raised its position in Cisco Systems by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after acquiring an additional 1,677,383 shares in the last quarter. FMR LLC raised its position in Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after purchasing an additional 1,530,468 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Wells Fargo & Company lifted their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Piper Sandler raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Bank of America boosted their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the sale, the senior vice president now owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 in the last 90 days. 0.01% of the stock is currently owned by insiders.

Cisco Systems Trading Up 0.3 %

Shares of NASDAQ:CSCO traded up $0.19 during trading on Thursday, reaching $59.39. The stock had a trading volume of 3,995,331 shares, compared to its average volume of 19,212,635. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.23. The business has a fifty day moving average price of $58.18 and a 200-day moving average price of $52.53. The stock has a market cap of $236.54 billion, a P/E ratio of 25.49, a PEG ratio of 4.37 and a beta of 0.85. 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 (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion for 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 for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 EPS. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

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.