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

Signet Financial Management LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,086 shares of the network equipment provider’s stock after selling 298 shares during the period. Signet Financial Management LLC’s holdings in Cisco Systems were worth $1,367,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Quarry LP lifted its stake in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC raised its holdings in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the period. Highline Wealth Partners LLC lifted its stake in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems during the 3rd quarter valued at about $40,000. Finally, Capital Performance Advisors LLP acquired a new position in Cisco Systems in the 3rd quarter valued at about $51,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,522 shares of company stock worth $20,349,721. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CSCO. Piper Sandler raised their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Bank of America lifted their target price on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Evercore ISI upped their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Citigroup lifted their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.28.

Cisco Systems Stock Up 0.0 %

CSCO opened at $58.76 on Tuesday. The stock has a market capitalization of $234.03 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The business’s 50-day simple moving average is $58.73 and its 200-day simple moving average is $53.26.

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

Cisco Systems Announces Dividend

The firm also recently disclosed 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 2.72%. Cisco Systems’s dividend payout ratio is presently 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.