Sanctuary Advisors LLC Has $49.36 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Sanctuary Advisors LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the 4th quarter, HoldingsChannel reports. The fund owned 816,294 shares of the network equipment provider’s stock after selling 15,330 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cisco Systems were worth $49,361,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CSCO. Exchange Traded Concepts LLC raised its position in shares of Cisco Systems by 57.7% during the third quarter. Exchange Traded Concepts LLC now owns 5,126 shares of the network equipment provider’s stock worth $273,000 after purchasing an additional 1,876 shares during the period. Creative Planning raised its position in shares of Cisco Systems by 3.4% during the third quarter. Creative Planning now owns 1,155,964 shares of the network equipment provider’s stock worth $60,979,000 after purchasing an additional 38,000 shares during the period. Swedbank AB raised its position in shares of Cisco Systems by 0.6% during the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after purchasing an additional 52,711 shares during the period. Secure Asset Management LLC acquired a new stake in shares of Cisco Systems during the third quarter worth about $226,000. Finally, Stratos Wealth Partners LTD. raised its position in shares of Cisco Systems by 17.3% during the third quarter. Stratos Wealth Partners LTD. now owns 142,182 shares of the network equipment provider’s stock worth $7,567,000 after purchasing an additional 20,968 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CSCO. Piper Sandler increased their price objective on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday. UBS Group raised their price target on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley lifted their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, StockNews.com upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $66.53.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the transaction, the director now owns 65,915 shares in the company, valued at approximately $3,946,331.05. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,239 shares of company stock valued at $2,166,612 in the last three months. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $64.87 on Monday. The stock has a market capitalization of $258.36 billion, a PE ratio of 27.84, a P/E/G ratio of 4.63 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. The business has a fifty day moving average price of $60.07 and a two-hundred day moving average price of $55.59. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.53%. Cisco Systems’s payout ratio is currently 71.62%.

Cisco Systems announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.