Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by KBC Group NV

KBC Group NV decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,922,307 shares of the network equipment provider’s stock after selling 65,952 shares during the quarter. KBC Group NV’s holdings in Cisco Systems were worth $113,800,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CSCO. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Highline Wealth Partners LLC grew its stake in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares during the period. Quarry LP increased its stake in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems in the 3rd quarter valued at about $40,000. Finally, Decker Retirement Planning Inc. purchased a new position in Cisco Systems during the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Piper Sandler upped their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Citigroup boosted their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Bank of America increased 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. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $61.50.

Cisco Systems Price Performance

Cisco Systems stock opened at $62.23 on Monday. The stock has a 50-day simple moving average of $59.22 and a 200-day simple moving average of $54.09. The company has a market capitalization of $247.85 billion, a P/E ratio of 26.71, a PEG ratio of 4.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $62.31.

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

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 over the last 90 days. 0.01% of the stock is currently owned by insiders.

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.