Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by XML Financial LLC

XML Financial LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 163,189 shares of the network equipment provider’s stock after selling 3,795 shares during the quarter. XML Financial LLC’s holdings in Cisco Systems were worth $9,661,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Beaumont Financial Advisors LLC grew its stake in shares of Cisco Systems by 1.7% in the fourth quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock valued at $627,000 after buying an additional 173 shares in the last quarter. SeaCrest Wealth Management LLC lifted its stake in Cisco Systems by 0.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock valued at $1,879,000 after acquiring an additional 178 shares during the last quarter. Aviso Wealth Management grew its position in shares of Cisco Systems by 2.4% in the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock valued at $405,000 after acquiring an additional 181 shares during the period. Waypoint Capital Advisors LLC increased its stake in shares of Cisco Systems by 2.9% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after purchasing an additional 182 shares during the last quarter. Finally, Andina Capital Management LLC raised its holdings in shares of Cisco Systems by 3.6% in the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after purchasing an additional 182 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CSCO. Piper Sandler boosted their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Morgan Stanley boosted their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Barclays raised their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Bank of America upped their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock opened at $61.03 on Wednesday. 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 market cap of $243.07 billion, a PE ratio of 26.19, a P/E/G ratio of 4.48 and a beta of 0.84. The business has a 50 day moving average of $58.94 and a 200-day moving average of $53.70. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $61.33.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. Cisco Systems’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.62%. Cisco Systems’s dividend payout ratio is currently 68.67%.

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.