Tobam Sells 1,719 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Tobam trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 22.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,091 shares of the network equipment provider’s stock after selling 1,719 shares during the period. Tobam’s holdings in Cisco Systems were worth $361,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Highline Wealth Partners LLC raised its holdings in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after buying an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the 3rd quarter worth approximately $40,000. Decker Retirement Planning Inc. purchased a new position in shares of Cisco Systems in the 4th quarter worth approximately $49,000. Capital Performance Advisors LLP bought a new position in shares of Cisco Systems in the third quarter valued at approximately $51,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Cisco Systems during the third quarter valued at approximately $56,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $62.27 on Friday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $63.25. The stock has a market cap of $248.01 billion, a PE ratio of 26.73, a P/E/G ratio of 4.51 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. The business’s 50-day moving average price is $59.65 and its 200-day moving average price is $54.87.

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 net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. Cisco Systems’s revenue was down 5.6% on a year-over-year basis. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the sale, the director now directly owns 65,915 shares of the company’s stock, valued at $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. 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 owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CSCO shares. Piper Sandler boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. UBS Group raised their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Finally, Morgan Stanley raised 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. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.72.

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.