Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by BOK Financial Private Wealth Inc.

BOK Financial Private Wealth Inc. cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,391 shares of the network equipment provider’s stock after selling 2,541 shares during the period. BOK Financial Private Wealth Inc.’s holdings in Cisco Systems were worth $1,385,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CSCO. Raymond James Financial Inc. acquired a new stake in Cisco Systems in the fourth quarter valued at $560,722,000. FMR LLC raised its holdings in Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after acquiring an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Cisco Systems by 327.5% in the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after acquiring an additional 5,223,800 shares in the last quarter. National Bank of Canada FI raised its holdings in Cisco Systems by 79.6% in the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after acquiring an additional 3,975,028 shares in the last quarter. Finally, State Street Corp raised its holdings in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after acquiring an additional 3,241,682 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at $47,413,489.20. The trade was 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 67,348 shares of company stock valued at $4,318,181. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Performance

Shares of CSCO opened at $63.94 on Friday. The firm has a 50-day moving average price of $61.63 and a 200 day moving average price of $57.39. The firm has a market capitalization of $254.37 billion, a PE ratio of 27.92, a P/E/G ratio of 4.16 and a beta of 0.79. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) 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%. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in 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 generally a sign that the company’s management believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is currently 71.62%.

Analyst Ratings Changes

CSCO has been the topic of several recent analyst reports. Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a report on Thursday. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. 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. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Tuesday, January 28th. Finally, Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.63.

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.