Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by DMC Group LLC

DMC Group LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,156 shares of the network equipment provider’s stock after selling 304 shares during the quarter. DMC Group LLC’s holdings in Cisco Systems were worth $1,016,000 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. Quarry LP grew its position in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares in the last quarter. Birmingham Capital Management Co. Inc. AL boosted its stake in shares of Cisco Systems by 12.4% in the second quarter. Birmingham Capital Management Co. Inc. AL now owns 20,350 shares of the network equipment provider’s stock valued at $967,000 after purchasing an additional 2,244 shares during the period. Creekside Partners acquired a new stake in Cisco Systems during the 2nd quarter valued at $617,000. Sanctuary Advisors LLC purchased a new stake in Cisco Systems during the 2nd quarter worth $41,685,000. Finally, Heritage Wealth Management Inc. acquired a new position in Cisco Systems in the 2nd quarter worth $2,954,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 0.2 %

Shares of Cisco Systems stock opened at $59.55 on Thursday. The stock has a market capitalization of $237.17 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 4.59 and a beta of 0.84. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $62.31. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The business’s 50 day simple moving average is $59.30 and its 200-day simple moving average is $54.32.

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

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CSCO. Piper Sandler raised their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $66.00 to $73.00 in a report on Monday, January 6th. UBS Group lifted their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Barclays increased their target price on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Tigress Financial lifted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $62.72.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the transaction, the director now owns 65,915 shares of the company’s stock, valued at $3,946,331.05. This represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.

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. 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.