Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 1,843 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 4th quarter, HoldingsChannel reports. The fund owned 72,169 shares of the network equipment provider’s stock after selling 1,843 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Cisco Systems were worth $3,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System lifted its stake in shares of Cisco Systems by 25.0% in the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after acquiring an additional 3,753,165 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the 3rd quarter valued at about $179,207,000. Capital Wealth Planning LLC lifted its stake in shares of Cisco Systems by 7,074.3% in the 3rd quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock valued at $175,883,000 after acquiring an additional 3,226,040 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Cisco Systems by 32.7% in the 4th quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock valued at $391,498,000 after acquiring an additional 1,909,597 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Cisco Systems by 3.8% in the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after acquiring an additional 1,847,682 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.13 during midday trading on Tuesday, hitting $48.27. 5,914,657 shares of the stock traded hands, compared to its average volume of 19,341,059. The firm has a 50-day moving average of $49.03 and a two-hundred day moving average of $50.17. The firm has a market capitalization of $195.45 billion, a P/E ratio of 14.63, a PEG ratio of 2.77 and a beta of 0.87. 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, Inc. has a one year low of $45.56 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. During the same period in the prior year, the business posted $0.76 EPS. Cisco Systems’s revenue was down 5.9% on a year-over-year basis. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is 48.63%.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 in the last 90 days. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their target price on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Wells Fargo & Company began coverage on Cisco Systems in a report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target on the stock. Barclays boosted their price target on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and a consensus price target of $55.53.

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.