Bennett Selby Investments LP Sells 274 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bennett Selby Investments LP reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,806 shares of the network equipment provider’s stock after selling 274 shares during the quarter. Bennett Selby Investments LP’s holdings in Cisco Systems were worth $225,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSCO. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares in the last quarter. Highline Wealth Partners LLC raised its position in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the period. Quarry LP lifted its stake in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems in the 3rd quarter worth approximately $40,000. Finally, Decker Retirement Planning Inc. purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $49,000. 73.33% of the stock is owned by institutional investors.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares in the company, valued at approximately $3,101,838.63. The trade was a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the sale, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. This trade represents a 9.03 % 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 corporate insiders.

Cisco Systems Stock Performance

CSCO opened at $62.23 on Friday. The company has a 50-day simple moving average of $59.12 and a 200 day simple moving average of $53.92. The stock has a market capitalization of $247.85 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 4.59 and a beta of 0.84. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $62.31.

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

Cisco Systems Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on CSCO shares. Wells Fargo & Company boosted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. 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 note on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays boosted their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price 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.