Nicolet Bankshares Inc. Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Nicolet Bankshares Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 28.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,977 shares of the network equipment provider’s stock after selling 9,405 shares during the quarter. Nicolet Bankshares Inc.’s holdings in Cisco Systems were worth $1,289,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Cisco Systems by 1.7% during the second quarter. BlackRock Inc. now owns 347,569,395 shares of the network equipment provider’s stock valued at $17,983,240,000 after buying an additional 5,924,553 shares in the last quarter. State Street Corp grew its stake in Cisco Systems by 1.4% in the second quarter. State Street Corp now owns 187,505,879 shares of the network equipment provider’s stock valued at $9,701,554,000 after purchasing an additional 2,626,429 shares in the last quarter. Geode Capital Management LLC grew its stake in Cisco Systems by 7.3% in the second quarter. Geode Capital Management LLC now owns 84,109,563 shares of the network equipment provider’s stock valued at $4,341,473,000 after purchasing an additional 5,731,285 shares in the last quarter. Morgan Stanley grew its stake in Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after purchasing an additional 9,160,347 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC grew its stake in Cisco Systems by 112,307.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after purchasing an additional 59,466,550 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO traded down $0.01 on Monday, hitting $50.12. 8,925,496 shares of the company’s stock traded hands, compared to its average volume of 18,288,938. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $203.66 billion, a PE ratio of 15.03, a P/E/G ratio of 2.39 and a beta of 0.90. The firm’s 50-day moving average price is $50.19 and its two-hundred day moving average price is $52.20. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.91 by $0.20. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. The company had revenue of $14.67 billion during the quarter, compared to analyst estimates of $14.63 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, analysts expect that Cisco Systems, Inc. will post 3.38 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Thursday, January 4th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, January 3rd. This represents a $1.56 annualized dividend and a dividend yield of 3.11%. Cisco Systems’s dividend payout ratio is presently 47.13%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Raymond James cut Cisco Systems from a “market perform” rating to an “underperform” rating in a research report on Monday, October 30th. Piper Sandler cut their price objective on Cisco Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, November 16th. New Street Research cut Cisco Systems from a “buy” rating to a “neutral” rating in a research report on Thursday, November 16th. Melius Research reissued a “hold” rating and set a $55.00 price objective on shares of Cisco Systems in a research report on Monday, January 8th. Finally, DZ Bank cut Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and a consensus target price of $58.26.

Read Our Latest Report on Cisco Systems

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 24,579 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $47.99, for a total value of $1,179,546.21. Following the transaction, the executive vice president now directly owns 210,395 shares in the company, valued at $10,096,856.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 24,579 shares of Cisco Systems stock in a transaction on Friday, November 17th. The shares were sold at an average price of $47.99, for a total value of $1,179,546.21. Following the transaction, the executive vice president now directly owns 210,395 shares in the company, valued at approximately $10,096,856.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 5,060 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $47.95, for a total transaction of $242,627.00. Following the sale, the senior vice president now owns 67,422 shares in the company, valued at $3,232,884.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 150,475 shares of company stock valued at $7,464,194. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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