Pflug Koory LLC Has $1.96 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Pflug Koory LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the fourth quarter, HoldingsChannel reports. The fund owned 33,026 shares of the network equipment provider’s stock after buying an additional 165 shares during the quarter. Cisco Systems accounts for 1.0% of Pflug Koory LLC’s portfolio, making the stock its 17th biggest holding. Pflug Koory LLC’s holdings in Cisco Systems were worth $1,955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Cisco Systems by 87.5% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,706 shares of the network equipment provider’s stock valued at $101,000 after acquiring an additional 796 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Cisco Systems by 60.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,219 shares of the network equipment provider’s stock valued at $487,000 after purchasing an additional 3,093 shares during the last quarter. CX Institutional grew its stake in Cisco Systems by 10.3% in the fourth quarter. CX Institutional now owns 137,610 shares of the network equipment provider’s stock valued at $8,147,000 after purchasing an additional 12,801 shares in the last quarter. Impact Partnership Wealth LLC increased its position in Cisco Systems by 3.5% in the 4th quarter. Impact Partnership Wealth LLC now owns 22,979 shares of the network equipment provider’s stock worth $1,360,000 after purchasing an additional 782 shares during the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of Cisco Systems by 8.5% during the 4th quarter. Sound Income Strategies LLC now owns 361,853 shares of the network equipment provider’s stock worth $21,422,000 after purchasing an additional 28,372 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO opened at $62.23 on Friday. 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 50-day simple moving average of $59.12 and a 200-day simple moving average of $53.92. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $62.31. The firm has a market capitalization of $247.85 billion, a P/E ratio of 26.71, a P/E/G ratio of 4.59 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities research 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 was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. Cisco Systems’s payout ratio is presently 68.67%.

Analyst Ratings Changes

A number of equities analysts recently commented on CSCO shares. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Piper Sandler lifted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Morgan Stanley increased their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group upped their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Insider Buying and Selling

In related news, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction dated 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 transaction, the director now directly owns 65,915 shares of the company’s stock, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents 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 in the last 90 days. 0.01% of the stock is owned by company insiders.

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.