Forbes J M & Co. LLP Trims Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Forbes J M & Co. LLP cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,082 shares of the network equipment provider’s stock after selling 335 shares during the quarter. Forbes J M & Co. LLP’s holdings in Cisco Systems were worth $2,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its stake in Cisco Systems by 5.0% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 5,382 shares of the network equipment provider’s stock worth $286,000 after buying an additional 258 shares in the last quarter. Quotient Wealth Partners LLC lifted its holdings in Cisco Systems by 9.1% in the 3rd quarter. Quotient Wealth Partners LLC now owns 8,391 shares of the network equipment provider’s stock worth $447,000 after buying an additional 698 shares during the period. LifePro Asset Management bought a new position in shares of Cisco Systems during the third quarter valued at approximately $539,000. Watts Gwilliam & Co. LLC purchased a new stake in Cisco Systems in the third quarter worth $1,041,000. Finally, Albion Financial Group UT boosted its holdings in Cisco Systems by 1.1% in the third quarter. Albion Financial Group UT now owns 158,383 shares of the network equipment provider’s stock valued at $8,429,000 after acquiring an additional 1,682 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CSCO. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Piper Sandler lifted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Finally, Morgan Stanley lifted their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. 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 company’s stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus price target of $62.72.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction dated 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 of the company’s stock, valued at $3,101,838.63. The trade was a 8.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the sale, the director now directly owns 65,915 shares of the company’s stock, valued at $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by company insiders.

Cisco Systems Price Performance

NASDAQ CSCO opened at $62.27 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $63.25. The stock has a 50-day moving average of $59.71 and a 200 day moving average of $54.98. 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 company has a market capitalization of $248.01 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 4.51 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $13.78 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

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.