Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Reduced by Granite Group Advisors LLC

Granite Group Advisors LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,905 shares of the network equipment provider’s stock after selling 4,470 shares during the period. Cisco Systems accounts for approximately 1.6% of Granite Group Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Granite Group Advisors LLC’s holdings in Cisco Systems were worth $2,540,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. West Financial Advisors LLC boosted its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the period. Highline Wealth Partners LLC raised its stake in Cisco Systems by 76.7% during 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 in the last quarter. Quarry LP raised its stake in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems during the 3rd quarter worth $40,000. Finally, Decker Retirement Planning Inc. acquired a new position in Cisco Systems in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $62.23 on Monday. The business’s fifty day moving average price is $59.22 and its 200-day moving average price is $54.09. The stock has a market capitalization of $247.85 billion, a PE ratio of 26.71, a P/E/G ratio of 4.59 and a beta of 0.84. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $62.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

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

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were given 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 was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Morgan Stanley upped their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $61.50.

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.