Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 20.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,351 shares of the network equipment provider’s stock after selling 1,391 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Cisco Systems were worth $317,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CSCO. FMR LLC boosted its holdings in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the period. Two Sigma Advisers LP lifted its holdings in Cisco Systems by 327.5% in the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after acquiring an additional 5,223,800 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in Cisco Systems by 5,231.5% in the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after acquiring an additional 4,842,542 shares during the period. National Bank of Canada FI raised its position in shares of Cisco Systems by 79.6% during the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after purchasing an additional 3,975,028 shares during the period. Finally, State Street Corp lifted its holdings in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several brokerages have weighed in on CSCO. Tigress Financial increased their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Barclays increased their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Morgan Stanley boosted their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Piper Sandler increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Cisco Systems Trading Up 1.0 %

Shares of NASDAQ:CSCO opened at $62.23 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 stock has a market capitalization of $247.85 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 4.54 and a beta of 0.84. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $62.32. The company has a 50 day moving average price of $59.04 and a 200 day moving average price of $53.86.

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

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

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.