Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,882 shares of the network equipment provider’s stock after selling 701 shares during the quarter. Cisco Systems makes up 1.1% of Hunter Associates Investment Management LLC’s investment portfolio, making the stock its 19th biggest holding. Hunter Associates Investment Management LLC’s holdings in Cisco Systems were worth $7,338,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sonora Investment Management Group LLC grew its holdings in shares of Cisco Systems by 3.9% during the fourth quarter. Sonora Investment Management Group LLC now owns 345,485 shares of the network equipment provider’s stock worth $20,453,000 after buying an additional 12,876 shares during the last quarter. Oak Harvest Investment Services lifted its position in Cisco Systems by 22.3% during the 4th quarter. Oak Harvest Investment Services now owns 153,238 shares of the network equipment provider’s stock worth $9,072,000 after acquiring an additional 27,893 shares during the period. Cibc World Market Inc. grew its stake in shares of Cisco Systems by 12.9% in the 4th quarter. Cibc World Market Inc. now owns 1,060,307 shares of the network equipment provider’s stock valued at $62,770,000 after purchasing an additional 121,010 shares during the last quarter. Cyr Financial Inc. acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $627,000. Finally, Mediolanum International Funds Ltd raised its stake in shares of Cisco Systems by 41.7% during the fourth quarter. Mediolanum International Funds Ltd now owns 916,477 shares of the network equipment provider’s stock worth $54,113,000 after purchasing an additional 269,647 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the transaction, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Tigress Financial lifted their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. BNP Paribas raised 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. Piper Sandler lifted their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Bank of America increased their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.72.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $60.47 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm has a market capitalization of $240.84 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 4.43 and a beta of 0.84. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $62.31. The company has a 50 day moving average price of $59.34 and a 200 day moving average price of $54.35.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) 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 firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The company’s revenue was down 5.6% on a year-over-year basis. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

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.