Sanctuary Advisors LLC Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Sanctuary Advisors LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 831,624 shares of the network equipment provider’s stock after selling 39,350 shares during the period. Sanctuary Advisors LLC’s holdings in Cisco Systems were worth $48,692,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Tudor Financial Inc. purchased a new position in shares of Cisco Systems during the 3rd quarter worth $1,097,000. SkyView Investment Advisors LLC increased its stake in Cisco Systems by 4.5% in the third quarter. SkyView Investment Advisors LLC now owns 10,188 shares of the network equipment provider’s stock valued at $542,000 after purchasing an additional 440 shares during the last quarter. Morse Asset Management Inc purchased a new position in Cisco Systems during the third quarter worth about $798,000. Advisory Resource Group boosted its stake in Cisco Systems by 1.9% in the 3rd quarter. Advisory Resource Group now owns 97,718 shares of the network equipment provider’s stock worth $5,201,000 after buying an additional 1,784 shares during the last quarter. Finally, Hohimer Wealth Management LLC grew its holdings in Cisco Systems by 24.7% in the 3rd quarter. Hohimer Wealth Management LLC now owns 104,481 shares of the network equipment provider’s stock valued at $5,560,000 after buying an additional 20,679 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In related 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 transaction of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares in the company, valued at $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 is available through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the sale, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 349,894 shares of company stock worth $20,135,273. 0.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CSCO shares. Jefferies Financial Group reduced their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Barclays lifted their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Morgan Stanley increased their target price on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Rosenblatt Securities raised their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Piper Sandler boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Stock Performance

CSCO stock opened at $58.59 on Thursday. The stock’s 50 day simple moving average is $56.89 and its 200 day simple moving average is $51.19. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.23. The firm has a market cap of $233.35 billion, a P/E ratio of 25.15, a P/E/G ratio of 4.39 and a beta of 0.85. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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 earned $0.98 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) 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.