D.B. Root & Company LLC Has $687,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

D.B. Root & Company LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,610 shares of the network equipment provider’s stock after selling 296 shares during the quarter. D.B. Root & Company LLC’s holdings in Cisco Systems were worth $687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Asset Planning Services Inc. LA ADV raised its position in shares of Cisco Systems by 3.6% in the fourth quarter. Asset Planning Services Inc. LA ADV now owns 108,452 shares of the network equipment provider’s stock valued at $6,420,000 after purchasing an additional 3,750 shares during the period. Independent Wealth Network Inc. grew its stake in Cisco Systems by 3.2% in the 4th quarter. Independent Wealth Network Inc. now owns 9,144 shares of the network equipment provider’s stock valued at $541,000 after buying an additional 280 shares during the last quarter. GoalVest Advisory LLC raised its holdings in Cisco Systems by 47.5% in the 4th quarter. GoalVest Advisory LLC now owns 44,560 shares of the network equipment provider’s stock valued at $2,638,000 after acquiring an additional 14,355 shares during the period. Albion Financial Group UT lifted its position in Cisco Systems by 0.3% during the fourth quarter. Albion Financial Group UT now owns 158,815 shares of the network equipment provider’s stock worth $9,402,000 after acquiring an additional 432 shares during the last quarter. Finally, West Branch Capital LLC boosted its holdings in shares of Cisco Systems by 10.7% during the fourth quarter. West Branch Capital LLC now owns 44,544 shares of the network equipment provider’s stock worth $2,637,000 after acquiring an additional 4,304 shares during the period. Institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup lifted their price target on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Piper Sandler lifted their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a 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. Morgan Stanley lifted their price objective 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. Finally, Wells Fargo & Company increased 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. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $61.63 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $245.46 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 4.54 and a beta of 0.84. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $61.76. The stock’s 50-day simple moving average is $59.04 and its 200 day simple moving average is $53.86.

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 the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 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 transaction of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 in the last 90 days. 0.01% of the stock is owned by corporate 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.