Strategic Investment Advisors MI Sells 1,252 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Strategic Investment Advisors MI cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,028 shares of the network equipment provider’s stock after selling 1,252 shares during the period. Strategic Investment Advisors MI’s holdings in Cisco Systems were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc purchased a new position in shares of Cisco Systems in the third quarter valued at $798,000. HighVista Strategies LLC purchased a new position in shares of Cisco Systems in the third quarter valued at $1,698,000. GAMMA Investing LLC grew its position in Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after buying an additional 10,813 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in Cisco Systems by 10.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after buying an additional 162,544 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new position in Cisco Systems during the third quarter worth about $502,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction 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 directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. This 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 worth $20,349,721 in the last 90 days. Insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays boosted their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Wells Fargo & Company boosted their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Bank of America upped their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Eight 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.50.

Cisco Systems Price Performance

CSCO stock opened at $62.23 on Monday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $62.31. The business’s 50 day moving average price is $59.22 and its two-hundred day moving average price is $54.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The company has a market capitalization of $247.85 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 4.59 and a beta of 0.84.

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, topping 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 in the prior year, the business earned $0.98 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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

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.