Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by True North Advisors LLC

True North Advisors LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,204 shares of the network equipment provider’s stock after selling 313 shares during the quarter. True North Advisors LLC’s holdings in Cisco Systems were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Independent Wealth Network Inc. increased its position in shares of Cisco Systems by 3.2% during the fourth quarter. Independent Wealth Network Inc. now owns 9,144 shares of the network equipment provider’s stock valued at $541,000 after acquiring an additional 280 shares during the last quarter. GoalVest Advisory LLC increased its holdings in Cisco Systems by 47.5% in the 4th quarter. GoalVest Advisory LLC now owns 44,560 shares of the network equipment provider’s stock valued at $2,638,000 after purchasing an additional 14,355 shares during the last quarter. Albion Financial Group UT raised its position in Cisco Systems by 0.3% in the fourth quarter. Albion Financial Group UT now owns 158,815 shares of the network equipment provider’s stock valued at $9,402,000 after purchasing an additional 432 shares during the period. West Branch Capital LLC lifted its stake in Cisco Systems by 10.7% during the fourth quarter. West Branch Capital LLC now owns 44,544 shares of the network equipment provider’s stock worth $2,637,000 after purchasing an additional 4,304 shares in the last quarter. Finally, MBM Wealth Consultants LLC boosted its position in shares of Cisco Systems by 6.6% during the fourth quarter. MBM Wealth Consultants LLC now owns 5,317 shares of the network equipment provider’s stock worth $314,000 after buying an additional 331 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSCO has been the topic of several research reports. UBS Group increased their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Tigress Financial upped their target price 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. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price target for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Finally, Barclays increased their price objective 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. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $62.23 on Friday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.32. The firm has a market capitalization of $247.85 billion, a P/E ratio of 26.71, a P/E/G ratio of 4.54 and a beta of 0.84. 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 company’s fifty day moving average price is $59.04 and its 200 day moving average price is $53.86.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. Cisco Systems’s payout ratio is 68.67%.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the transaction, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 in the last 90 days. 0.01% of the stock is owned by insiders.

Cisco Systems 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.