SRN Advisors LLC Sells 4,077 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

SRN Advisors LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,865 shares of the network equipment provider’s stock after selling 4,077 shares during the quarter. Cisco Systems comprises 1.3% of SRN Advisors LLC’s holdings, making the stock its 21st largest holding. SRN Advisors LLC’s holdings in Cisco Systems were worth $1,413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CSCO. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems in the fourth quarter worth $26,000. Highline Wealth Partners LLC grew its position in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems during the 3rd quarter worth about $40,000. Decker Retirement Planning Inc. bought a new position in Cisco Systems in the 4th quarter worth about $49,000. Finally, Capital Performance Advisors LLP purchased a new position in Cisco Systems during the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the completion of the transaction, the executive vice president now owns 200,191 shares of the company’s stock, valued at approximately $12,886,294.67. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,848 shares of company stock valued at $4,767,206 over the last three months. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Wells Fargo & Company boosted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Finally, Bank of America lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus price target of $66.53.

Cisco Systems Trading Down 0.3 %

NASDAQ CSCO opened at $64.08 on Thursday. The firm has a market cap of $254.93 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The stock has a 50-day moving average of $61.00 and a 200-day moving average of $56.61. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is currently 71.62%.

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.