Forvis Mazars Wealth Advisors LLC Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Forvis Mazars Wealth Advisors LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,169 shares of the network equipment provider’s stock after selling 3,665 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Cisco Systems were worth $8,890,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. purchased a new position in Cisco Systems during the 4th quarter valued at approximately $26,000. Highline Wealth Partners LLC boosted its holdings in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of Cisco Systems in 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. Finally, Capital Performance Advisors LLP purchased a new position in shares of Cisco Systems in the 3rd quarter worth approximately $51,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares in the company, valued at $3,101,838.63. The trade was a 8.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,921 shares of company stock valued at $4,298,667. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 1.1 %

Shares of NASDAQ CSCO opened at $63.98 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $60.65 and a two-hundred day simple moving average of $56.22. The firm has a market cap of $254.53 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is presently 69.87%.

Analyst Ratings Changes

CSCO has been the subject of a number of recent research reports. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Piper Sandler lifted their target price on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Tuesday, January 28th. Finally, UBS Group raised their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.