Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Mitchell Sinkler & Starr PA

Mitchell Sinkler & Starr PA trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 26.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,821 shares of the network equipment provider’s stock after selling 10,985 shares during the period. Mitchell Sinkler & Starr PA’s holdings in Cisco Systems were worth $1,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the fourth quarter valued at $30,000. Campbell Capital Management Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $31,000. Highline Wealth Partners LLC lifted its position 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 worth $35,000 after buying an additional 260 shares during the last quarter. Finally, Synergy Investment Management LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $36,000. 73.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CSCO shares. UBS Group raised their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $66.63.

Insider Transactions at Cisco Systems

In other news, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the transaction, the chief financial officer now owns 335,605 shares in the company, valued at $21,616,318.05. This represents a 5.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock valued at $4,275,553 over the last quarter. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 0.9 %

Shares of Cisco Systems stock opened at $60.86 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The firm has a market capitalization of $242.12 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The stock’s fifty day moving average is $62.11 and its 200-day moving average is $58.47.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.69%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is presently 71.62%.

Cisco Systems announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are 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.