Joule Financial LLC Sells 2,182 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Joule Financial LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,171 shares of the network equipment provider’s stock after selling 2,182 shares during the quarter. Joule Financial LLC’s holdings in Cisco Systems were worth $1,194,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Quarry LP raised its holdings in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the period. West Financial Advisors LLC grew its holdings in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the period. Highline Wealth Partners LLC increased its position in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after buying an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems in the third quarter valued at approximately $40,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $59.87, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now owns 50,767 shares in the company, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $60.23 on Friday. The firm’s 50 day simple moving average is $58.91 and its 200 day simple moving average is $53.52. The firm has a market capitalization of $239.88 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 4.37 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.95.

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, beating analysts’ consensus estimates 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 the consensus estimate of $13.78 billion. During the same quarter last year, the business posted $0.98 EPS. The company’s revenue was down 5.6% compared to the same quarter last year. As a group, research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of research analyst reports. UBS Group increased their price target on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Piper Sandler raised their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Citigroup upped their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday. Tigress Financial raised their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Bank of America upped their target price on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

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.