NorthCrest Asset Manangement LLC Sells 342 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

NorthCrest Asset Manangement LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 467,298 shares of the network equipment provider’s stock after selling 342 shares during the quarter. Cisco Systems accounts for about 0.8% of NorthCrest Asset Manangement LLC’s investment portfolio, making the stock its 25th largest position. NorthCrest Asset Manangement LLC’s holdings in Cisco Systems were worth $27,664,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its stake in Cisco Systems by 0.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,604,217 shares of the network equipment provider’s stock valued at $154,170,000 after purchasing an additional 8,158 shares in the last quarter. Watts Gwilliam & Co. LLC increased its holdings in shares of Cisco Systems by 1.9% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 20,126 shares of the network equipment provider’s stock worth $1,186,000 after buying an additional 375 shares during the last quarter. First Hawaiian Bank raised its position in shares of Cisco Systems by 4.6% during the 4th quarter. First Hawaiian Bank now owns 41,328 shares of the network equipment provider’s stock valued at $2,447,000 after buying an additional 1,807 shares in the last quarter. InvesTrust bought a new stake in shares of Cisco Systems during the 4th quarter worth $6,140,000. Finally, Range Financial Group LLC grew its position in Cisco Systems by 172.4% in the fourth quarter. Range Financial Group LLC now owns 11,890 shares of the network equipment provider’s stock worth $704,000 after acquiring an additional 7,525 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CSCO. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday. Evercore ISI boosted their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. UBS Group increased their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Citigroup upped their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Piper Sandler lifted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.28.

Cisco Systems Trading Down 1.0 %

CSCO stock traded down $0.58 on Friday, reaching $58.62. The company’s stock had a trading volume of 4,044,803 shares, compared to its average volume of 14,748,052. The firm has a market cap of $233.47 billion, a PE ratio of 25.16, a PEG ratio of 4.37 and a beta of 0.84. The business has a fifty day simple moving average of $58.60 and a two-hundred day simple moving average of $53.02. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same period last year, the company posted $0.98 EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,522 shares of company stock valued at $20,349,721. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Company 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.