Hennessy Advisors Inc. Sells 32,100 Shares of Cisco Systems, Inc. $CSCO

Hennessy Advisors Inc. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 21.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 116,600 shares of the network equipment provider’s stock after selling 32,100 shares during the quarter. Hennessy Advisors Inc.’s holdings in Cisco Systems were worth $8,982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Juncture Wealth Strategies LLC lifted its holdings in shares of Cisco Systems by 0.9% in the 4th quarter. Juncture Wealth Strategies LLC now owns 15,042 shares of the network equipment provider’s stock worth $1,159,000 after buying an additional 132 shares during the period. Northstar Advisory Group LLC raised its stake in Cisco Systems by 1.6% in the fourth quarter. Northstar Advisory Group LLC now owns 8,203 shares of the network equipment provider’s stock valued at $632,000 after buying an additional 133 shares during the last quarter. Roman Butler Fullerton & Co. increased its holdings in shares of Cisco Systems by 0.8% in the fourth quarter. Roman Butler Fullerton & Co. now owns 15,917 shares of the network equipment provider’s stock valued at $1,183,000 after purchasing an additional 133 shares during the period. Green Alpha Advisors LLC grew its holdings in Cisco Systems by 1.2% during the fourth quarter. Green Alpha Advisors LLC now owns 12,349 shares of the network equipment provider’s stock worth $951,000 after acquiring an additional 141 shares during the period. Finally, Benchmark Financial Wealth Advisors LLC grew its holdings in Cisco Systems by 1.4% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 10,449 shares of the network equipment provider’s stock worth $715,000 after acquiring an additional 142 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $86.25 on Monday. Cisco Systems, Inc. has a one year low of $53.83 and a one year high of $88.18. The company has a market cap of $340.68 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 3.25 and a beta of 0.83. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. The business’s 50 day moving average price is $79.86 and its 200 day moving average price is $76.78.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The firm had revenue of $15.35 billion for the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter last year, the business posted $0.94 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio is 58.95%.

Analyst Ratings Changes

CSCO has been the subject of several research analyst reports. UBS Group lifted their price target on shares of Cisco Systems from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Zacks Research cut shares of Cisco Systems from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. DZ Bank raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, February 13th. Evercore raised shares of Cisco Systems from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $100.00 in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cisco Systems from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.81.

Insider Activity

In related news, CEO Charles Robbins sold 19,545 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $1,485,420.00. Following the completion of the sale, the chief executive officer directly owned 671,095 shares of the company’s stock, valued at approximately $51,003,220. This trade represents a 2.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,744 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $77.07, for a total value of $134,410.08. Following the sale, the executive vice president directly owned 156,693 shares of the company’s stock, valued at $12,076,329.51. The trade was a 1.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 46,431 shares of company stock worth $3,574,820. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.