Nan Fung Trinity HK Ltd. Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Nan Fung Trinity HK Ltd. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 50.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 173,900 shares of the network equipment provider’s stock after selling 175,900 shares during the period. Cisco Systems accounts for about 2.1% of Nan Fung Trinity HK Ltd.’s portfolio, making the stock its 19th largest position. Nan Fung Trinity HK Ltd.’s holdings in Cisco Systems were worth $10,295,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CSCO. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems in the fourth quarter worth about $26,000. Highline Wealth Partners LLC increased its holdings in shares of Cisco Systems by 76.7% during the fourth 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 in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Cisco Systems in the 3rd quarter valued at approximately $40,000. Decker Retirement Planning Inc. acquired a new stake in Cisco Systems in the 4th quarter worth approximately $49,000. Finally, Capital Performance Advisors LLP purchased a new stake in Cisco Systems during the 3rd quarter worth approximately $51,000. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 31,983 shares of the firm’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 transaction, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the sale, the senior vice president now owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,921 shares of company stock valued at $4,298,667. 0.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CSCO. Morgan Stanley lifted 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. Piper Sandler lifted their price target on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Finally, Wells Fargo & Company upped their target price on Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.53.

Cisco Systems Trading Down 1.1 %

Shares of Cisco Systems stock opened at $63.98 on Friday. The firm has a 50-day simple moving average of $60.65 and a two-hundred day simple moving average of $56.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a market cap of $254.53 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is 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 paid a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 69.87%.

Cisco Systems 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.