Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Barry Investment Advisors LLC

Barry Investment Advisors LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 155,846 shares of the network equipment provider’s stock after selling 2,009 shares during the period. Cisco Systems makes up 2.7% of Barry Investment Advisors LLC’s portfolio, making the stock its 12th largest holding. Barry Investment Advisors LLC’s holdings in Cisco Systems were worth $7,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. Valued Wealth Advisors LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $32,000. Delos Wealth Advisors LLC raised its holdings in shares of Cisco Systems by 1,666.7% during the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after acquiring an additional 600 shares during the period. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $33,000. Morton Brown Family Wealth LLC raised its holdings in shares of Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC raised its holdings in shares of Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSCO has been the topic of several research reports. Barclays upped their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, May 17th. Citigroup initiated coverage on shares of Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective on the stock. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Morgan Stanley initiated coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective on the stock. Finally, Piper Sandler reiterated a “neutral” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Cisco Systems in a research note on Thursday, May 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.47.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the firm’s 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 sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction 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 approximately $9,579,865.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 27,457 shares of company stock worth $1,358,772 in the last ninety days. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.41 during midday trading on Wednesday, reaching $47.35. The stock had a trading volume of 12,521,040 shares, compared to its average volume of 19,355,789. Cisco Systems, Inc. has a 1-year low of $46.20 and a 1-year high of $58.19. The firm’s fifty day simple moving average is $48.57 and its 200-day simple moving average is $49.40. 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 stock has a market capitalization of $191.73 billion, a P/E ratio of 15.92, a PEG ratio of 2.15 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s revenue was down 12.8% compared to the same quarter last year. During the same period last year, the business posted $0.88 EPS. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.38%. Cisco Systems’s dividend payout ratio is 53.87%.

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.