Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Trimmed by Byrne Asset Management LLC

Byrne Asset Management LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,597 shares of the network equipment provider’s stock after selling 365 shares during the quarter. Byrne Asset Management LLC’s holdings in Cisco Systems were worth $1,279,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Apollon Financial LLC increased its stake in Cisco Systems by 22.3% during the 4th quarter. Apollon Financial LLC now owns 5,112 shares of the network equipment provider’s stock valued at $303,000 after buying an additional 933 shares during the period. Cantor Fitzgerald Investment Advisors L.P. increased its stake in shares of Cisco Systems by 0.4% during the fourth quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 441,162 shares of the network equipment provider’s stock valued at $26,117,000 after acquiring an additional 1,957 shares during the period. TFG Advisers LLC raised its holdings in Cisco Systems by 2.7% during the fourth quarter. TFG Advisers LLC now owns 45,867 shares of the network equipment provider’s stock worth $2,715,000 after purchasing an additional 1,221 shares in the last quarter. Vest Financial LLC lifted its position in Cisco Systems by 7.8% in the fourth quarter. Vest Financial LLC now owns 663,381 shares of the network equipment provider’s stock worth $39,272,000 after purchasing an additional 48,272 shares during the period. Finally, Joel Isaacson & Co. LLC boosted its stake in Cisco Systems by 13.5% during the 4th quarter. Joel Isaacson & Co. LLC now owns 28,783 shares of the network equipment provider’s stock valued at $1,704,000 after purchasing an additional 3,414 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

NASDAQ CSCO opened at $62.27 on Friday. The company has a 50 day simple moving average of $59.65 and a 200-day simple moving average of $54.87. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $63.25. The firm has a market capitalization of $248.01 billion, a price-to-earnings ratio of 26.73, 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 (NASDAQ:CSCO) last issued its earnings results 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. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter last year, the business posted $0.98 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid 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 dividend payout ratio (DPR) is presently 68.67%.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 58,188 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 $3,345,228.12. Following the completion of the sale, the executive vice president now owns 219,100 shares in the company, valued at approximately $12,596,059. This represents a 20.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $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 a total of 353,522 shares of company stock worth $20,349,721 in the last three months. 0.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CSCO has been the subject of several research analyst reports. Tigress Financial upped their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company raised their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Tuesday, January 28th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.72.

Cisco Systems 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.