Carr Financial Group Corp Sells 6,154 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Carr Financial Group Corp lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 47.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,706 shares of the network equipment provider’s stock after selling 6,154 shares during the period. Carr Financial Group Corp’s holdings in Cisco Systems were worth $397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Cisco Systems by 87.5% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,706 shares of the network equipment provider’s stock valued at $101,000 after purchasing an additional 796 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Cisco Systems by 60.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,219 shares of the network equipment provider’s stock valued at $487,000 after purchasing an additional 3,093 shares in the last quarter. CX Institutional boosted its position in shares of Cisco Systems by 10.3% during the 4th quarter. CX Institutional now owns 137,610 shares of the network equipment provider’s stock valued at $8,147,000 after purchasing an additional 12,801 shares in the last quarter. Impact Partnership Wealth LLC boosted its position in shares of Cisco Systems by 3.5% during the 4th quarter. Impact Partnership Wealth LLC now owns 22,979 shares of the network equipment provider’s stock valued at $1,360,000 after purchasing an additional 782 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its position in shares of Cisco Systems by 8.5% during the 4th quarter. Sound Income Strategies LLC now owns 361,853 shares of the network equipment provider’s stock valued at $21,422,000 after purchasing an additional 28,372 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several research analyst reports. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $73.00 in a research report on Monday, January 6th. UBS Group upped their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Piper Sandler upped their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company upped 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 analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $62.23 on Friday. The stock has a fifty day simple moving average of $59.12 and a two-hundred day simple moving average of $53.92. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $62.31. The firm has a market cap of $247.85 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 4.59 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $13.78 billion. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors 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 dividend on an annualized basis and a dividend yield of 2.57%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Insider Buying and Selling

In other Cisco Systems news, 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 sale, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,522 shares of company stock worth $20,349,721. Corporate 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.