St. Johns Investment Management Company LLC Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

St. Johns Investment Management Company LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,173 shares of the network equipment provider’s stock after selling 713 shares during the period. St. Johns Investment Management Company LLC’s holdings in Cisco Systems were worth $1,076,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sound Income Strategies LLC raised its stake in shares of Cisco Systems by 8.5% during the 4th quarter. Sound Income Strategies LLC now owns 361,853 shares of the network equipment provider’s stock worth $21,422,000 after acquiring an additional 28,372 shares in the last quarter. RFG Advisory LLC increased its position in shares of Cisco Systems by 5.2% during the fourth quarter. RFG Advisory LLC now owns 38,405 shares of the network equipment provider’s stock worth $2,274,000 after purchasing an additional 1,889 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $218,000. Motive Wealth Advisors acquired a new stake in shares of Cisco Systems in the 4th quarter worth $222,000. Finally, MFA Wealth Services purchased a new position in Cisco Systems during the 4th quarter worth $764,000. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value 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 approximately $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.0 %

CSCO stock opened at $62.23 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $62.32. The business’s 50-day moving average is $59.04 and its 200 day moving average is $53.86. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a market cap of $247.85 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 4.59 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 earnings per share. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CSCO shares. UBS Group raised their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Wells Fargo & Company lifted their target price on shares of 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 upped their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Tigress Financial boosted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Piper Sandler upped their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Eight 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

About Cisco Systems

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.