Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by SOL Capital Management CO

SOL Capital Management CO decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 16.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 35,671 shares of the network equipment provider’s stock after selling 7,000 shares during the period. SOL Capital Management CO’s holdings in Cisco Systems were worth $2,112,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Quarry LP raised its holdings in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC increased its position in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Highline Wealth Partners LLC raised its stake in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems during the 3rd quarter worth about $40,000. Finally, Decker Retirement Planning Inc. purchased a new stake in Cisco Systems during the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CSCO. Citigroup lifted their target price on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Bank of America lifted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. UBS Group increased their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Piper Sandler lifted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.72.

Cisco Systems Price Performance

Cisco Systems stock opened at $60.47 on Friday. 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 company’s fifty day moving average price is $59.34 and its 200 day moving average price is $54.35. The stock has a market capitalization of $240.84 billion, a P/E ratio of 25.95, a P/E/G ratio of 4.59 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $62.31.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.65%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This trade represents a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the company’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 $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 over the last ninety days. Insiders own 0.01% of the company’s stock.

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.