Braun Bostich & Associates Inc. Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Braun Bostich & Associates Inc. lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,610 shares of the network equipment provider’s stock after selling 715 shares during the period. Braun Bostich & Associates Inc.’s holdings in Cisco Systems were worth $332,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Beaumont Financial Advisors LLC increased its stake in shares of Cisco Systems by 1.7% during the fourth quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock worth $627,000 after purchasing an additional 173 shares in the last quarter. SeaCrest Wealth Management LLC boosted its holdings in shares of Cisco Systems by 0.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock worth $1,879,000 after purchasing an additional 178 shares during the last quarter. Aviso Wealth Management grew its position in shares of Cisco Systems by 2.4% in the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock valued at $405,000 after purchasing an additional 181 shares in the last quarter. Waypoint Capital Advisors LLC increased its holdings in shares of Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after purchasing an additional 182 shares during the last quarter. Finally, Andina Capital Management LLC lifted its position in Cisco Systems by 3.6% during the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock worth $279,000 after buying an additional 182 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares in the company, valued at approximately $3,101,838.63. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

Shares of CSCO opened at $61.03 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm’s fifty day simple moving average is $58.94 and its 200-day simple moving average is $53.70. The firm has a market capitalization of $243.07 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 4.48 and a beta of 0.84. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $61.33.

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

Cisco Systems Dividend Announcement

The business also recently declared 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 is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.62%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analyst Ratings Changes

A number of brokerages have issued reports on CSCO. JPMorgan Chase & Co. raised 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. Citigroup lifted their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Piper Sandler increased their price target 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. UBS Group lifted their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Barclays increased their price objective on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

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.