Weatherly Asset Management L. P. Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Weatherly Asset Management L. P. lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,133 shares of the network equipment provider’s stock after selling 498 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Cisco Systems were worth $2,735,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Wealthspire Advisors LLC increased its holdings in Cisco Systems by 48.1% during the 3rd quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after purchasing an additional 23,194 shares during the period. Roble Belko & Company Inc increased its holdings in Cisco Systems by 77.1% during the 4th quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock worth $324,000 after purchasing an additional 2,788 shares during the period. HBK Sorce Advisory LLC increased its holdings in Cisco Systems by 0.5% during the 3rd quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock worth $3,448,000 after purchasing an additional 301 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Cisco Systems during the 4th quarter worth about $28,685,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in Cisco Systems by 1.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after purchasing an additional 49,700 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CSCO shares. Citigroup started coverage on Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Piper Sandler upped their price objective on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Finally, Melius cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $55.53.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value 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. In the last ninety days, insiders sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is owned by company insiders.

Cisco Systems Stock Performance

Cisco Systems stock traded up $0.18 during mid-day trading on Tuesday, reaching $48.32. 16,239,196 shares of the company were exchanged, compared to its average volume of 19,471,814. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The firm’s 50-day simple moving average is $49.03 and its two-hundred day simple moving average is $50.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The firm has a market cap of $195.66 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 2.77 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. During the same period last year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.31%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

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.