Balentine LLC Sells 6,075 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Balentine LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 54.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,078 shares of the network equipment provider’s stock after selling 6,075 shares during the period. Balentine LLC’s holdings in Cisco Systems were worth $301,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CSCO. New Republic Capital LLC lifted its stake in Cisco Systems by 8.1% during the 4th quarter. New Republic Capital LLC now owns 11,282 shares of the network equipment provider’s stock valued at $668,000 after acquiring an additional 842 shares in the last quarter. JSF Financial LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth about $255,000. Atlantic Edge Private Wealth Management LLC increased its holdings in Cisco Systems by 3.2% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 47,071 shares of the network equipment provider’s stock worth $2,787,000 after buying an additional 1,447 shares during the last quarter. Sovran Advisors LLC bought a new stake in Cisco Systems in the fourth quarter worth about $541,000. Finally, Strengthening Families & Communities LLC grew its position in shares of Cisco Systems by 2.1% during the 4th quarter. Strengthening Families & Communities LLC now owns 35,913 shares of the network equipment provider’s stock valued at $2,126,000 after acquiring an additional 728 shares during the period. 73.33% of the stock is owned by institutional investors.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the company’s 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 transaction, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the director now directly owns 65,915 shares of the company’s stock, valued at $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 0.9 %

NASDAQ:CSCO opened at $62.81 on Tuesday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $63.25. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $59.71 and a 200-day moving average price of $55.10. The stock has a market cap of $250.16 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 4.63 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.55%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CSCO. Piper Sandler increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. UBS Group upped their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Citigroup raised their price target on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company lifted their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.72.

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.