Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,811 shares of the network equipment provider’s stock after selling 1,132 shares during the period. Procyon Advisors LLC’s holdings in Cisco Systems were worth $6,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. Wealth Dimensions Group Ltd. grew its holdings in shares of Cisco Systems by 1.4% during the second quarter. Wealth Dimensions Group Ltd. now owns 13,401 shares of the network equipment provider’s stock worth $693,000 after purchasing an additional 188 shares during the last quarter. Strong Tower Advisory Services grew its holdings in shares of Cisco Systems by 1.3% during the third quarter. Strong Tower Advisory Services now owns 14,831 shares of the network equipment provider’s stock worth $797,000 after purchasing an additional 190 shares during the last quarter. Richard W. Paul & Associates LLC grew its holdings in shares of Cisco Systems by 0.9% during the third quarter. Richard W. Paul & Associates LLC now owns 20,996 shares of the network equipment provider’s stock worth $1,129,000 after purchasing an additional 191 shares during the last quarter. Cassia Capital Partners LLC grew its holdings in shares of Cisco Systems by 1.4% during the third quarter. Cassia Capital Partners LLC now owns 13,950 shares of the network equipment provider’s stock worth $750,000 after purchasing an additional 191 shares during the last quarter. Finally, Waddell & Associates LLC grew its holdings in shares of Cisco Systems by 0.8% during the third quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock worth $1,328,000 after purchasing an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CSCO shares. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Barclays raised their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Wells Fargo & Company began coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price objective for the company. UBS Group lifted their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, Piper Sandler lifted their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.42.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.22 during trading on Thursday, reaching $49.99. 1,666,231 shares of the company’s stock traded hands, compared to its average volume of 19,654,645. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The company has a 50 day moving average of $49.78 and a 200-day moving average of $50.94. The stock has a market capitalization of $202.42 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 2.24 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 3.16 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be paid a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.20%. Cisco Systems’s dividend payout ratio is 47.42%.

Insider Transactions at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 in the last 90 days. 0.02% of the stock is owned by insiders.

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.