First Pacific Financial Sells 426 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

First Pacific Financial cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,321 shares of the network equipment provider’s stock after selling 426 shares during the quarter. First Pacific Financial’s holdings in Cisco Systems were worth $875,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSCO. BlackRock Inc. grew its holdings in Cisco Systems by 1.7% during the 2nd 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 lifted its holdings in Cisco Systems by 1.4% during the 2nd quarter. State Street Corp now owns 187,505,879 shares of the network equipment provider’s stock valued at $9,701,554,000 after buying an additional 2,626,429 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Cisco Systems by 17.4% in the 4th quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after buying an additional 9,160,347 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of Cisco Systems by 112,307.0% during 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. Finally, FMR LLC grew its position in shares of Cisco Systems by 3.2% in the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after buying an additional 1,790,717 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Transactions at Cisco Systems

In other Cisco Systems 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 value of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock valued at $972,080 in the last quarter. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSCO. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Melius Research reissued a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a report on Monday, January 8th. UBS Group raised their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Melius cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Piper Sandler upped their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus price target of $56.42.

Cisco Systems Trading Up 0.4 %

Shares of Cisco Systems stock opened at $49.77 on Thursday. The business has a fifty day simple moving average of $49.78 and a two-hundred day simple moving average of $50.94. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The company has a market capitalization of $201.53 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 2.24 and a beta of 0.87. Cisco Systems, Inc. has a 1 year low of $45.56 and a 1 year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same period in the previous year, the business earned $0.76 EPS. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. Research analysts forecast that Cisco Systems, Inc. will post 3.16 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is presently 47.42%.

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.