abrdn plc Sells 334,361 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

abrdn plc lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,829,484 shares of the network equipment provider’s stock after selling 334,361 shares during the quarter. Cisco Systems accounts for approximately 0.6% of abrdn plc’s portfolio, making the stock its 23rd largest holding. abrdn plc owned about 0.15% of Cisco Systems worth $343,444,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pflug Koory LLC lifted its stake in shares of Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after buying an additional 165 shares in the last quarter. Beaumont Financial Advisors LLC lifted its stake in shares of Cisco Systems by 1.7% in the fourth quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock worth $627,000 after buying an additional 173 shares in the last quarter. SeaCrest Wealth Management LLC lifted its stake in shares of Cisco Systems by 0.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock worth $1,879,000 after buying an additional 178 shares in the last quarter. Aviso Wealth Management lifted its stake in shares of Cisco Systems by 2.4% in the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after buying an additional 181 shares in the last quarter. Finally, Waypoint Capital Advisors LLC lifted its stake in shares of Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after buying an additional 182 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Up 0.7 %

Shares of Cisco Systems stock opened at $61.04 on Tuesday. The business’s fifty day moving average price is $59.44 and its two-hundred day moving average price is $54.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The company has a market capitalization of $243.11 billion, a P/E ratio of 26.20, a PEG ratio of 4.51 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 announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm 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 was Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.62%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays lifted their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. UBS Group lifted their target price 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. Tigress Financial lifted their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Morgan Stanley lifted their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $62.72.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction 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 approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction 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 sale, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 over the last quarter. Company insiders own 0.01% of the company’s stock.

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.