Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Kelleher Financial Advisors

Kelleher Financial Advisors cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 16.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,204 shares of the network equipment provider’s stock after selling 2,895 shares during the quarter. Kelleher Financial Advisors’ holdings in Cisco Systems were worth $900,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of CSCO. Quarry LP boosted its holdings in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its position in shares of 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 during the period. Highline Wealth Partners LLC boosted its position in shares of 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 during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of Cisco Systems during the 3rd quarter worth approximately $40,000. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Cisco Systems during the 4th quarter worth approximately $49,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CSCO shares. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Piper Sandler increased their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company increased their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $61.63 on Thursday. The company’s fifty day moving average price is $58.99 and its 200 day moving average price is $53.81. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month 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. The firm has a market capitalization 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.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS 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 period last year, the business earned $0.98 EPS. Cisco Systems’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

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

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the firm’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 transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the sale, the executive vice president now directly owns 219,100 shares in the company, valued at approximately $12,596,059. The trade was a 20.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,522 shares of company stock valued at $20,349,721. Insiders own 0.01% of the company’s stock.

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.