Bartlett & CO. Wealth Management LLC Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Bartlett & CO. Wealth Management LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,160 shares of the network equipment provider’s stock after selling 1,552 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Cisco Systems were worth $4,686,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Quarry LP boosted its position in 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 acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC boosted 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 purchasing an additional 309 shares in the last quarter. Highline Wealth Partners LLC grew its stake in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems in the third quarter worth about $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of several recent analyst reports. Barclays boosted their price objective 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. Citigroup increased their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. Piper Sandler boosted their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price target for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Finally, Wells Fargo & Company boosted their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.50.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the sale, the executive vice president now directly owns 207,798 shares in the company, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 over the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.0 %

Shares of Cisco Systems stock opened at $62.23 on Friday. The firm has a 50-day simple moving average of $59.04 and a two-hundred day simple moving average of $53.86. 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 fifty-two week low of $44.50 and a fifty-two week high of $62.32. The company has a market cap of $247.85 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 4.54 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (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 revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 earnings per share. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business 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 of this dividend was Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Cisco Systems Company 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.