First Foundation Advisors trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,442 shares of the network equipment provider’s stock after selling 17,457 shares during the quarter. First Foundation Advisors’ holdings in Cisco Systems were worth $6,301,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems in the 4th quarter worth about $30,000. Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at about $31,000. Highline Wealth Partners LLC boosted its position in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares during the last quarter. Finally, Synergy Investment Management LLC bought a new stake in shares of Cisco Systems during the 4th quarter valued at about $36,000. 73.33% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on CSCO. Piper Sandler decreased their price objective on Cisco Systems from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday. Morgan Stanley boosted their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. UBS Group upped their target price on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.
Insiders Place Their Bets
In other news, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the transaction, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at $21,616,318.05. This trade represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,547 shares of company stock valued at $4,275,553. Company insiders own 0.01% of the company’s stock.
Cisco Systems Stock Down 0.7 %
Cisco Systems stock opened at $57.72 on Thursday. The firm has a fifty day moving average price of $61.47 and a two-hundred day moving average price of $58.95. The firm has a market cap of $229.63 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 4.16 and a beta of 0.86. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. 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 – Get Free Report) last issued 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 return on equity of 26.08% and a net margin of 16.96%. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is currently 71.62%.
Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management 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.
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