Crescent Sterling Ltd. Sells 465 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Crescent Sterling Ltd. lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 47,989 shares of the network equipment provider’s stock after selling 465 shares during the period. Cisco Systems accounts for about 2.9% of Crescent Sterling Ltd.’s investment portfolio, making the stock its 11th largest holding. Crescent Sterling Ltd.’s holdings in Cisco Systems were worth $2,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its holdings in Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cisco Systems by 1.3% in the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after buying an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after acquiring an additional 1,677,383 shares during the period. FMR LLC raised its holdings in Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after acquiring an additional 5,885,879 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after acquiring an additional 1,530,468 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

CSCO stock opened at $58.74 on Monday. The stock has a market capitalization of $233.95 billion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The company has a 50 day moving average price of $58.67 and a 200 day moving average price of $53.18. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.23.

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

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CSCO. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Bank of America increased their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Citigroup lifted their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Piper Sandler boosted their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Barclays increased their price objective 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. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.28.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction on Friday, November 15th. The shares were 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 in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 353,522 shares of company stock valued at $20,349,721. Corporate insiders own 0.01% of the company’s stock.

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.