Fiduciary Trust Co Sells 15,678 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fiduciary Trust Co lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 560,281 shares of the network equipment provider’s stock after selling 15,678 shares during the quarter. Fiduciary Trust Co’s holdings in Cisco Systems were worth $33,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clark Capital Management Group Inc. grew its holdings in shares of Cisco Systems by 130.0% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,652,111 shares of the network equipment provider’s stock valued at $97,805,000 after purchasing an additional 933,859 shares in the last quarter. Deutsche Bank AG increased its position in shares of Cisco Systems by 2.0% during the fourth quarter. Deutsche Bank AG now owns 15,632,643 shares of the network equipment provider’s stock worth $925,452,000 after acquiring an additional 301,684 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Cisco Systems by 7.9% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,047,789 shares of the network equipment provider’s stock valued at $180,429,000 after buying an additional 221,864 shares during the period. Eagle Global Advisors LLC raised its position in shares of Cisco Systems by 1.6% in the 4th quarter. Eagle Global Advisors LLC now owns 12,898 shares of the network equipment provider’s stock worth $764,000 after acquiring an additional 200 shares in the last quarter. Finally, Colonial Trust Co SC lifted its position in Cisco Systems by 6.8% during the fourth quarter. Colonial Trust Co SC now owns 70,793 shares of the network equipment provider’s stock valued at $4,191,000 after acquiring an additional 4,528 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Tuesday, January 28th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price objective on shares of Cisco Systems from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Rosenblatt Securities reduced their price target on Cisco Systems from $80.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Piper Sandler lowered their price objective on Cisco Systems from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.05.

Insider Activity

In other news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the transaction, the chief financial officer now directly owns 335,605 shares in the company, valued at $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,547 shares of company stock worth $4,275,553. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $59.71 on Friday. The company has a market cap of $237.54 billion, a P/E ratio of 26.07, a PEG ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The business has a 50-day moving average price of $58.85 and a two-hundred day moving average price of $59.41. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates 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 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were issued a $0.41 dividend. The ex-dividend date was Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.75%. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Cisco Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.