Keystone Financial Group Sells 1,442 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Keystone Financial Group reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 5.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 23,889 shares of the network equipment provider’s stock after selling 1,442 shares during the period. Keystone Financial Group’s holdings in Cisco Systems were worth $1,207,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in Cisco Systems in the fourth quarter worth approximately $2,528,939,000. Charles Schwab Investment Management Inc. increased its stake in shares of Cisco Systems by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after acquiring an additional 6,345,954 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cisco Systems by 29.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock worth $895,576,000 after acquiring an additional 3,989,543 shares in the last quarter. California Public Employees Retirement System grew its holdings in Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after purchasing an additional 3,753,165 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in Cisco Systems in the third quarter valued at $179,207,000. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, 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 legal filing with the SEC, which is available through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was 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 owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,441 shares of company stock valued at $972,080. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $1.04 during trading hours on Monday, hitting $47.13. 22,026,154 shares of the company’s stock traded hands, compared to its average volume of 19,372,236. The stock has a market capitalization of $190.84 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 2.20 and a beta of 0.87. Cisco Systems, Inc. has a 12-month low of $46.20 and a 12-month high of $58.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The company has a fifty day simple moving average of $48.69 and a 200-day simple moving average of $49.49.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 earnings per share. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.39%. Cisco Systems’s payout ratio is 53.87%.

Analysts Set New Price Targets

CSCO has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday. Citigroup started coverage on Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective for the company. Morgan Stanley initiated coverage on Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price objective (up from $51.00) on shares of Cisco Systems in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and a consensus target price of $56.47.

View Our Latest Analysis on CSCO

About Cisco Systems

(Free Report)

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.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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