Bourne Lent Asset Management Inc. Sells 1,600 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bourne Lent Asset Management Inc. lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,887 shares of the network equipment provider’s stock after selling 1,600 shares during the quarter. Cisco Systems comprises about 2.6% of Bourne Lent Asset Management Inc.’s investment portfolio, making the stock its 11th largest position. Bourne Lent Asset Management Inc.’s holdings in Cisco Systems were worth $6,801,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Seven Eight Capital LP acquired a new position in Cisco Systems in the second quarter valued at approximately $242,000. EverSource Wealth Advisors LLC grew its position in shares of Cisco Systems by 3.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 14,811 shares of the network equipment provider’s stock worth $718,000 after buying an additional 540 shares during the period. Certified Advisory Corp grew its position in shares of Cisco Systems by 9.7% during the 2nd quarter. Certified Advisory Corp now owns 6,075 shares of the network equipment provider’s stock worth $289,000 after buying an additional 538 shares during the period. Public Sector Pension Investment Board raised its position in shares of Cisco Systems by 72.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 155,624 shares of the network equipment provider’s stock valued at $7,394,000 after acquiring an additional 65,124 shares during the period. Finally, Providence Capital Advisors LLC grew its holdings in Cisco Systems by 6.6% during the second quarter. Providence Capital Advisors LLC now owns 173,685 shares of the network equipment provider’s stock valued at $8,252,000 after purchasing an additional 10,817 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO opened at $61.03 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $61.33. The company has a 50 day simple moving average of $58.94 and a two-hundred day simple moving average of $53.70. The firm has a market cap of $243.07 billion, a P/E ratio of 26.19, a PEG ratio of 4.48 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The business’s revenue was down 5.6% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Analysts Set New Price Targets

A number of analysts recently commented on CSCO shares. UBS Group upped their price objective 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. Citigroup lifted their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. Piper Sandler raised their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Bank of America increased their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the transaction, the director now owns 65,915 shares in the company, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by corporate insiders.

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.