Gimbal Financial Has $532,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Gimbal Financial decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,994 shares of the network equipment provider’s stock after selling 284 shares during the period. Cisco Systems makes up 0.4% of Gimbal Financial’s portfolio, making the stock its 23rd largest holding. Gimbal Financial’s holdings in Cisco Systems were worth $532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pflug Koory LLC lifted its holdings in shares of Cisco Systems by 0.5% during the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after buying an additional 165 shares in the last quarter. Pathway Financial Advisors LLC lifted its holdings in shares of Cisco Systems by 3.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock worth $343,000 after buying an additional 172 shares in the last quarter. Beaumont Financial Advisors LLC lifted its holdings in shares of Cisco Systems by 1.7% during the fourth quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock worth $627,000 after buying an additional 173 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of Cisco Systems by 0.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock worth $1,879,000 after buying an additional 178 shares in the last quarter. Finally, Aviso Wealth Management lifted its holdings in shares of Cisco Systems by 2.4% during the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after buying an additional 181 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at $3,101,838.63. The trade was a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the transaction, the chief financial officer now directly owns 335,605 shares in the company, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,921 shares of company stock valued at $4,298,667 over the last ninety days. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $64.59 on Wednesday. The stock has a market cap of $257.25 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 4.63 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. The stock’s 50-day moving average is $60.31 and its 200-day moving average is $55.89. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a $0.41 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CSCO. Wells Fargo & Company lifted their target price on Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. StockNews.com upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. raised their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler raised their price target on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.53.

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.