American Research & Management Co. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,650 shares of the network equipment provider’s stock after selling 500 shares during the period. American Research & Management Co.’s holdings in Cisco Systems were worth $240,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. 360 Financial Inc. boosted its position in Cisco Systems by 3.0% during the fourth quarter. 360 Financial Inc. now owns 7,894 shares of the network equipment provider’s stock worth $353,000 after acquiring an additional 228 shares during the last quarter. Garrison Point Advisors LLC boosted its position in Cisco Systems by 1.3% during the fourth quarter. Garrison Point Advisors LLC now owns 18,190 shares of the network equipment provider’s stock worth $814,000 after acquiring an additional 238 shares during the last quarter. RDA Financial Network boosted its position in Cisco Systems by 2.8% during the fourth quarter. RDA Financial Network now owns 8,921 shares of the network equipment provider’s stock worth $399,000 after acquiring an additional 241 shares during the last quarter. Arbor Investment Advisors LLC boosted its position in Cisco Systems by 2.6% during the fourth quarter. Arbor Investment Advisors LLC now owns 9,813 shares of the network equipment provider’s stock worth $439,000 after acquiring an additional 249 shares during the last quarter. Finally, Sage Rhino Capital LLC boosted its position in Cisco Systems by 1.5% during the fourth quarter. Sage Rhino Capital LLC now owns 17,341 shares of the network equipment provider’s stock worth $776,000 after acquiring an additional 249 shares during the last quarter. 70.62% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Maria Martinez sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $46.66, for a total transaction of $279,960.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director M Michele Burns sold 13,982 shares of the business’s stock in a transaction that occurred on Friday, March 26th. The shares were sold at an average price of $51.55, for a total transaction of $720,772.10. Following the transaction, the director now directly owns 70,468 shares in the company, valued at $3,632,625.40. The disclosure for this sale can be found here. Insiders sold a total of 37,776 shares of company stock worth $1,832,205 over the last quarter. Insiders own 0.02% of the company’s stock.
A number of brokerages recently issued reports on CSCO. Credit Suisse Group raised their target price on shares of Cisco Systems from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 10th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price target on the stock in a report on Thursday, March 11th. Raymond James lifted their price target on shares of Cisco Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, February 10th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Thursday, February 11th. Finally, Piper Sandler raised their target price on shares of Cisco Systems from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, February 10th. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $49.48.
Shares of NASDAQ:CSCO opened at $51.91 on Friday. The company has a 50 day moving average of $48.56 and a 200-day moving average of $43.99. The firm has a market cap of $219.15 billion, a P/E ratio of 21.10, a P/E/G ratio of 2.54 and a beta of 0.95. Cisco Systems, Inc. has a twelve month low of $35.28 and a twelve month high of $52.94. The company has a current ratio of 1.59, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.92 billion. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. During the same period in the prior year, the business posted $0.77 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. Investors of record on Tuesday, April 6th will be issued a $0.37 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, April 5th. Cisco Systems’s payout ratio is presently 50.68%.
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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