Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.6% in the fourth quarter, HoldingsChannel reports. The fund owned 14,585 shares of the network equipment provider’s stock after selling 2,500 shares during the quarter. Argus Investors Counsel Inc.’s holdings in Cisco Systems were worth $863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CSCO. Pflug Koory LLC grew its stake in Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock valued at $1,955,000 after purchasing an additional 165 shares in the last quarter. Beaumont Financial Advisors LLC lifted its holdings in shares of Cisco Systems by 1.7% during the 4th quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock valued at $627,000 after buying an additional 173 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of Cisco Systems by 0.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock valued at $1,879,000 after buying an additional 178 shares in the last quarter. Aviso Wealth Management increased its holdings in Cisco Systems by 2.4% in 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 during the last quarter. Finally, Waypoint Capital Advisors LLC raised its position in Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after acquiring an additional 182 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

Cisco Systems stock opened at $62.57 on Thursday. The stock has a market cap of $249.20 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 4.51 and a beta of 0.84. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $62.71. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The business’s 50-day simple moving average is $59.59 and its 200 day simple moving average is $54.82.

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 the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same period last year, the business posted $0.98 earnings per share. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a dividend of $0.40 per share. The ex-dividend date was Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.56%. Cisco Systems’s payout ratio is presently 68.67%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the sale, the executive vice president now owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the 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 sale, the senior vice president now directly owns 51,931 shares in the company, valued at $3,101,838.63. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 over the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CSCO has been the topic of several analyst reports. Morgan Stanley increased their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Tigress Financial boosted their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Piper Sandler increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $62.72.

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.