Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Swedbank AB

Swedbank AB cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 21.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,047,717 shares of the network equipment provider’s stock after selling 1,981,877 shares during the period. Swedbank AB’s holdings in Cisco Systems were worth $417,225,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. West Financial Advisors LLC raised its holdings in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares in the last quarter. Highline Wealth Partners LLC boosted its stake in Cisco Systems by 76.7% during 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. Quarry LP increased its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems in the 3rd quarter valued at $40,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Cisco Systems during the fourth quarter worth about $49,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Price Performance

NASDAQ:CSCO traded up $0.58 on Wednesday, hitting $60.01. The company had a trading volume of 1,870,968 shares, compared to its average volume of 18,315,537. The stock has a market capitalization of $239.00 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 4.59 and a beta of 0.84. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $62.31. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $59.30 and a two-hundred day moving average of $54.32.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. The trade was a 1.14 % 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 valued at $20,349,721 over the last ninety days. 0.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CSCO. Morgan Stanley raised their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $66.00 to $73.00 in a report on Monday, January 6th. Bank of America boosted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Citigroup upped their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. Seven equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.