Sharp Financial Services LLC Sells 2,325 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sharp Financial Services LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 32.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,874 shares of the network equipment provider’s stock after selling 2,325 shares during the period. Sharp Financial Services LLC’s holdings in Cisco Systems were worth $289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. West Financial Advisors LLC increased its holdings in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares in the last quarter. Highline Wealth Partners LLC increased its holdings in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares in the last quarter. Quarry LP increased its holdings in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems during the 3rd quarter worth approximately $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Cisco Systems during the 4th quarter worth approximately $49,000. 73.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Citigroup boosted their target price on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Piper Sandler boosted their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Barclays boosted their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Cisco Systems Trading Up 1.0 %

NASDAQ:CSCO opened at $61.63 on Thursday. The company has a market cap of $245.46 billion, a P/E ratio of 26.45, a P/E/G ratio of 4.48 and a beta of 0.84. The stock’s fifty day moving average price is $58.99 and its two-hundred day moving average price is $53.81. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $61.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.60%. Cisco Systems’s payout ratio is currently 68.67%.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the transaction, the executive vice president now directly owns 207,798 shares in the company, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by company insiders.

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.