D.A. Davidson & CO. Sells 1,101 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

D.A. Davidson & CO. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 490,321 shares of the network equipment provider’s stock after selling 1,101 shares during the period. D.A. Davidson & CO.’s holdings in Cisco Systems were worth $29,027,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Citizens & Northern Corp increased its stake in shares of Cisco Systems by 4.0% in the fourth quarter. Citizens & Northern Corp now owns 33,156 shares of the network equipment provider’s stock valued at $1,963,000 after buying an additional 1,289 shares in the last quarter. Truist Financial Corp grew its holdings in Cisco Systems by 20.8% during the 4th quarter. Truist Financial Corp now owns 2,458,278 shares of the network equipment provider’s stock worth $145,530,000 after acquiring an additional 423,682 shares during the last quarter. CIBC Asset Management Inc increased its position in Cisco Systems by 0.8% in the 4th quarter. CIBC Asset Management Inc now owns 1,483,656 shares of the network equipment provider’s stock valued at $87,831,000 after acquiring an additional 12,177 shares in the last quarter. Total Investment Management Inc. raised its stake in shares of Cisco Systems by 3.7% in the fourth quarter. Total Investment Management Inc. now owns 6,268 shares of the network equipment provider’s stock worth $371,000 after acquiring an additional 224 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $218,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 4,881 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the transaction, the senior vice president now owns 51,931 shares in the company, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the sale, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,239 shares of company stock valued at $2,166,612 over the last three months. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America raised their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Morgan Stanley lifted their target price on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Citigroup raised their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $66.53.

Cisco Systems Price Performance

Shares of CSCO opened at $64.87 on Tuesday. The stock has a 50 day simple moving average of $60.07 and a 200 day simple moving average of $55.64. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. 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 $258.36 billion, a PE ratio of 27.84, a P/E/G ratio of 4.63 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Sell-side analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems declared that its board has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s payout ratio is 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.