Courier Capital LLC Sells 11,519 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Courier Capital LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 147,915 shares of the network equipment provider’s stock after selling 11,519 shares during the quarter. Courier Capital LLC’s holdings in Cisco Systems were worth $8,757,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CSCO. Quarry LP increased its holdings in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC increased its stake 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 acquiring an additional 309 shares in the last quarter. Highline Wealth Partners LLC lifted its position in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares during the period. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems during the third quarter worth $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in Cisco Systems in the third quarter worth $51,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

CSCO stock opened at $58.76 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $234.03 billion, a PE ratio of 25.22, a P/E/G ratio of 4.37 and a beta of 0.84. The business has a 50 day moving average of $58.73 and a 200-day moving average of $53.26. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.23.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction dated 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were 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 in the company, valued at approximately $3,946,331.05. This trade represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 in the last three months. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CSCO. Evercore ISI increased their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Tigress Financial increased their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their price objective on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Piper Sandler increased their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Citigroup boosted their price target on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.28.

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.