Janney Montgomery Scott LLC Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Janney Montgomery Scott LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the fourth quarter, HoldingsChannel reports. The fund owned 1,756,530 shares of the network equipment provider’s stock after selling 31,719 shares during the period. Janney Montgomery Scott LLC’s holdings in Cisco Systems were worth $103,987,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CSCO. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the last quarter. Highline Wealth Partners LLC raised its stake 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 worth $35,000 after buying an additional 260 shares during the last quarter. Quarry LP boosted its position in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Cisco Systems in the 3rd quarter worth about $40,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $49,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 86,351 shares of the business’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 $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now owns 51,931 shares of the company’s stock, valued at $3,101,838.63. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Up 1.0 %

CSCO stock opened at $61.63 on Thursday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $61.76. The firm has a market cap of $245.46 billion, a P/E ratio of 26.45, a P/E/G ratio of 4.54 and a beta of 0.84. The business’s 50 day moving average is $58.99 and its 200-day moving average is $53.81. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. Equities analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Analysts Set New Price Targets

CSCO has been the topic of several recent research reports. Bank of America boosted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Tigress Financial upped their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Piper Sandler upped their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $61.50.

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.