Valley National Advisers Inc. Lowers Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Valley National Advisers Inc. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.3% during the fourth quarter, HoldingsChannel reports. The firm owned 13,736 shares of the network equipment provider’s stock after selling 922 shares during the quarter. Valley National Advisers Inc.’s holdings in Cisco Systems were worth $813,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CSCO. Quarry LP grew its stake in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC grew its position in Cisco Systems by 116.6% during the third 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 increased its stake in Cisco Systems by 76.7% during the fourth 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 purchased a new position in shares of Cisco Systems in the 3rd quarter worth about $40,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several research reports. Wells Fargo & Company raised their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Tuesday, January 28th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Piper Sandler boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, Bank of America increased their target price on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.72.

Cisco Systems Price Performance

CSCO opened at $60.60 on Monday. 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 1-year low of $44.50 and a 1-year high of $62.31. The company has a 50-day moving average of $59.44 and a 200-day moving average of $54.54. The company has a market capitalization of $241.36 billion, a P/E ratio of 26.01, a PEG ratio of 4.43 and a beta of 0.84.

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 company had revenue of $13.84 billion for 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%. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. Equities analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.64%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insider Transactions at Cisco Systems

In related news, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the sale, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is currently owned by insiders.

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.