Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Lowered by Sanctuary Advisors LLC

Sanctuary Advisors LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 831,624 shares of the network equipment provider’s stock after selling 39,350 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cisco Systems were worth $48,692,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of Cisco Systems in the second quarter worth $25,000. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares in the last quarter. Quarry LP increased its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Cisco Systems during the 3rd quarter worth about $40,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley boosted their target price on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Piper Sandler increased their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Bank of America lifted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company boosted 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 report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Trading Down 0.2 %

Shares of NASDAQ:CSCO opened at $58.59 on Thursday. The company has a 50-day simple moving average of $56.89 and a 200 day simple moving average of $51.19. The company has a market capitalization of $233.35 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 4.39 and a beta of 0.85. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.23.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. Cisco Systems’s dividend payout ratio is presently 68.67%.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 349,894 shares of company stock worth $20,135,273. Corporate insiders own 0.01% of the company’s stock.

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.