Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Phillips Wealth Planners LLC

Phillips Wealth Planners LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,319 shares of the network equipment provider’s stock after selling 462 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Cisco Systems were worth $254,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its stake in shares of Cisco Systems by 72.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 155,624 shares of the network equipment provider’s stock worth $7,394,000 after acquiring an additional 65,124 shares during the last quarter. Sfmg LLC increased its stake in shares of Cisco Systems by 1.6% in the 2nd quarter. Sfmg LLC now owns 111,785 shares of the network equipment provider’s stock worth $5,311,000 after acquiring an additional 1,756 shares during the last quarter. Fred Alger Management LLC increased its stake in shares of Cisco Systems by 5.8% in the 2nd quarter. Fred Alger Management LLC now owns 100,310 shares of the network equipment provider’s stock worth $4,766,000 after acquiring an additional 5,471 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Cisco Systems in the 2nd quarter worth $2,269,000. Finally, Alley Investment Management Company LLC increased its stake in shares of Cisco Systems by 1.3% in the 2nd quarter. Alley Investment Management Company LLC now owns 102,293 shares of the network equipment provider’s stock worth $4,860,000 after acquiring an additional 1,290 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $61.63 on Thursday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $61.76. The company has a market cap of $245.46 billion, a PE ratio of 26.45, a P/E/G ratio of 4.48 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The business has a 50-day simple moving average of $58.99 and a 200-day simple moving average of $53.81.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the sale, the executive vice president now owns 207,798 shares in the company, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the sale, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 over the last three months. 0.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CSCO. Bank of America raised their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Tigress Financial raised their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their price objective on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Citigroup raised their price objective on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

About Cisco Systems

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.