Fiduciary Group LLC Sells 1,333 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fiduciary Group LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,724 shares of the network equipment provider’s stock after selling 1,333 shares during the quarter. Fiduciary Group LLC’s holdings in Cisco Systems were worth $4,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Swedbank AB raised its position in shares of Cisco Systems by 0.6% in the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after purchasing an additional 52,711 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Cisco Systems by 52.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,615 shares of the network equipment provider’s stock worth $139,000 after purchasing an additional 899 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Cisco Systems in the 3rd quarter worth about $1,529,000. Jennison Associates LLC raised its position in shares of Cisco Systems by 4.4% in the 3rd quarter. Jennison Associates LLC now owns 3,547,956 shares of the network equipment provider’s stock worth $188,822,000 after purchasing an additional 150,539 shares during the last quarter. Finally, R. W. Roge & Company Inc. purchased a new position in shares of Cisco Systems in the 3rd quarter worth about $211,000. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Morgan Stanley upped their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Piper Sandler restated a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.63.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This represents a 4.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Up 1.4 %

CSCO opened at $61.12 on Thursday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $61.89 and a 200 day moving average price of $57.97. The company has a market cap of $243.15 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results 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 net margin of 16.96% and a return on equity of 26.08%. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.68%. Cisco Systems’s dividend payout ratio is currently 71.62%.

Cisco Systems declared that its board has initiated a share repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership 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.