Cherry Creek Investment Advisors Inc. Sells 1,008 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cherry Creek Investment Advisors Inc. cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,937 shares of the network equipment provider’s stock after selling 1,008 shares during the period. Cherry Creek Investment Advisors Inc.’s holdings in Cisco Systems were worth $704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CSCO. Kathleen S. Wright Associates Inc. acquired a new position in Cisco Systems during the 3rd quarter worth approximately $27,000. Valued Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $32,000. Fortis Capital Advisors LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $34,000. Hibernia Wealth Partners LLC bought a new stake in shares of Cisco Systems in the third quarter valued at approximately $42,000. Finally, VitalStone Financial LLC bought a new stake in shares of Cisco Systems in the second quarter valued at approximately $45,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,441 shares of company stock worth $972,080. Insiders own 0.02% of the company’s stock.

Cisco Systems Trading Down 1.8 %

NASDAQ CSCO traded down $0.89 on Wednesday, hitting $49.12. 10,876,141 shares of the stock were exchanged, compared to its average volume of 19,684,309. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The firm has a market capitalization of $198.90 billion, a P/E ratio of 14.86, a P/E/G ratio of 2.18 and a beta of 0.87. The stock has a fifty day moving average price of $49.31 and a two-hundred day moving average price of $50.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. Research analysts forecast that Cisco Systems, Inc. will post 3.16 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.26%. Cisco Systems’s payout ratio is currently 48.63%.

Analyst Ratings Changes

Several research firms have recently issued reports on CSCO. Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Tuesday. Wells Fargo & Company started coverage on shares of Cisco Systems in a report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective for the company. Finally, Piper Sandler upped their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus price target of $56.19.

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.