Cornell Pochily Investment Advisors Inc. Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Cornell Pochily Investment Advisors Inc. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 27,264 shares of the network equipment provider’s stock after selling 1,511 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Cisco Systems were worth $1,614,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after acquiring an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Cisco Systems by 1.3% in the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after purchasing an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Cisco Systems by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after buying an additional 1,677,383 shares during the last quarter. FMR LLC grew its holdings in Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the period. Finally, Nordea Investment Management AB raised its stake in Cisco Systems by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after purchasing an additional 216,632 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CSCO. Wells Fargo & Company upped their price objective on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Piper Sandler raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. UBS Group raised their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Morgan Stanley boosted their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Cisco Systems Price Performance

CSCO stock opened at $62.23 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $59.22 and a 200-day simple moving average of $54.14. 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. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $62.31.

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

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Insiders Place Their Bets

In other news, Director Kristina M. Johnson sold 7,500 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the transaction, the director now directly owns 65,915 shares in the company, valued at approximately $3,946,331.05. This trade represents a 10.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the transaction, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 in the last quarter. Insiders own 0.01% of the company’s stock.

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.