Romano Brothers AND Company Sells 400 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Romano Brothers AND Company cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,223 shares of the network equipment provider’s stock after selling 400 shares during the period. Cisco Systems comprises 1.2% of Romano Brothers AND Company’s portfolio, making the stock its 14th biggest position. Romano Brothers AND Company’s holdings in Cisco Systems were worth $9,248,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. West Financial Advisors LLC increased 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 valued at $31,000 after buying an additional 309 shares during the period. Highline Wealth Partners LLC boosted its position in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares in the last quarter. Quarry LP increased 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 acquiring an additional 456 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems in the 3rd quarter worth $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Cisco Systems during the fourth quarter valued at about $49,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 0.7 %

Shares of Cisco Systems stock opened at $60.23 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The stock has a market cap of $239.88 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The firm has a fifty day moving average price of $58.91 and a 200 day moving average price of $53.52.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data 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 business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter last year, the business posted $0.98 EPS. The company’s revenue was down 5.6% on a year-over-year basis. Equities research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

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

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the sale, the executive vice president now owns 207,798 shares of the company’s stock, valued at $12,299,563.62. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 in the last 90 days. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on CSCO. 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. Bank of America increased their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Finally, Piper Sandler upped their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

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.