Robbins Farley Sells 25,247 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Robbins Farley cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 96.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,022 shares of the network equipment provider’s stock after selling 25,247 shares during the quarter. Robbins Farley’s holdings in Cisco Systems were worth $61,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Quarry LP boosted its holdings in Cisco Systems by 222.4% during 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. Czech National Bank lifted its position in Cisco Systems by 6.4% in the third quarter. Czech National Bank now owns 820,712 shares of the network equipment provider’s stock valued at $43,678,000 after purchasing an additional 49,100 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Cisco Systems by 19.4% during the third quarter. GAMMA Investing LLC now owns 82,544 shares of the network equipment provider’s stock valued at $4,393,000 after purchasing an additional 13,406 shares during the period. Azzad Asset Management Inc. ADV grew its holdings in shares of Cisco Systems by 2.3% in the third quarter. Azzad Asset Management Inc. ADV now owns 39,516 shares of the network equipment provider’s stock worth $2,103,000 after purchasing an additional 907 shares during the last quarter. Finally, Diversified Trust Co increased its stake in shares of Cisco Systems by 3.6% in the third quarter. Diversified Trust Co now owns 51,885 shares of the network equipment provider’s stock worth $2,761,000 after buying an additional 1,827 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the business’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 transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 over the last three months. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Up 0.7 %

Shares of NASDAQ CSCO opened at $61.04 on Tuesday. The stock has a market cap of $243.11 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 4.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $62.31. The firm has a 50-day moving average of $59.44 and a 200 day moving average of $54.58.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the business earned $0.98 earnings per share. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal 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 was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.62%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CSCO shares. Citigroup increased their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Wells Fargo & Company increased their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Bank of America upped their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Piper Sandler lifted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently 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.