Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,860,612 shares of the network equipment provider’s stock after selling 426,916 shares during the quarter. Truist Financial Corp owned approximately 0.07% of Cisco Systems worth $144,518,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. acquired a new stake in Cisco Systems during the third quarter worth about $27,000. Valued Wealth Advisors LLC acquired a new stake in Cisco Systems during the fourth quarter worth about $32,000. Morton Brown Family Wealth LLC increased its stake in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 208 shares during the last quarter. Bourgeon Capital Management LLC increased its stake in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 700 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $43,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the transaction, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,441 shares of company stock valued at $972,080. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Deutsche Bank Aktiengesellschaft increased their target price on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Piper Sandler increased their target price on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Barclays increased their target price on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Finally, Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $55.53.

Cisco Systems Stock Performance

NASDAQ:CSCO traded down $0.24 during trading hours on Friday, reaching $47.86. 14,658,910 shares of the stock were exchanged, compared to its average volume of 16,851,638. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $48.94 and a 200-day simple moving average of $50.06. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19. The stock has a market capitalization of $193.79 billion, a P/E ratio of 14.55, a P/E/G ratio of 2.78 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business’s revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were issued a $0.40 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.34%. Cisco Systems’s dividend payout ratio (DPR) is 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.