Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Mine & Arao Wealth Creation & Management LLC.

Mine & Arao Wealth Creation & Management LLC. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,899 shares of the network equipment provider’s stock after selling 700 shares during the period. Mine & Arao Wealth Creation & Management LLC.’s holdings in Cisco Systems were worth $408,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CSCO. Oak Harvest Investment Services lifted its holdings in Cisco Systems by 22.3% in the 4th quarter. Oak Harvest Investment Services now owns 153,238 shares of the network equipment provider’s stock valued at $9,072,000 after purchasing an additional 27,893 shares in the last quarter. Cibc World Market Inc. raised its position in shares of Cisco Systems by 12.9% in the fourth quarter. Cibc World Market Inc. now owns 1,060,307 shares of the network equipment provider’s stock valued at $62,770,000 after buying an additional 121,010 shares during the last quarter. Cyr Financial Inc. purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $627,000. Mediolanum International Funds Ltd boosted its position in Cisco Systems by 41.7% during the fourth quarter. Mediolanum International Funds Ltd now owns 916,477 shares of the network equipment provider’s stock worth $54,113,000 after acquiring an additional 269,647 shares during the last quarter. Finally, Crews Bank & Trust purchased a new stake in Cisco Systems in the 4th quarter worth approximately $1,483,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the transaction, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CSCO shares. Piper Sandler lifted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Wells Fargo & Company upped their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Tuesday. Citigroup increased 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, Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Trading Up 1.5 %

Shares of NASDAQ CSCO opened at $60.47 on Friday. The stock has a market capitalization of $240.84 billion, a P/E ratio of 25.95, a PEG ratio of 4.43 and a beta of 0.84. The stock’s 50 day moving average price is $59.34 and its two-hundred day moving average price is $54.35. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.31.

Cisco Systems (NASDAQ:CSCO) last released 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. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. Cisco Systems’s quarterly revenue was down 5.6% on a year-over-year basis. On average, analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

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.