Petredis Investment Advisors LLC Has $3.68 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Petredis Investment Advisors LLC lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,225 shares of the network equipment provider’s stock after selling 1,134 shares during the period. Petredis Investment Advisors LLC’s holdings in Cisco Systems were worth $3,684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. Quarry LP grew its position in shares of 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 buying an additional 456 shares during the last quarter. West Financial Advisors LLC grew its position 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 buying an additional 309 shares during the last quarter. Highline Wealth Partners LLC grew its position in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems in the 3rd quarter valued at about $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 171,744 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 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 approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CSCO shares. Piper Sandler upped their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Barclays upped their target price on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. UBS Group upped their target price on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Tigress Financial upped their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and upped their target price for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $62.23 on Friday. The company has a market cap of $247.85 billion, a PE ratio of 26.71, a price-to-earnings-growth 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 business has a 50 day moving average price of $59.12 and a 200-day moving average price of $53.92. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

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

Cisco Systems Dividend Announcement

The firm also recently declared 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 dividend yield of 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is 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.