Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,826 shares of the network equipment provider’s stock after selling 4,661 shares during the period. First Citizens Bank & Trust Co.’s holdings in Cisco Systems were worth $16,625,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pflug Koory LLC boosted its holdings in shares of Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after buying an additional 165 shares during the period. Beaumont Financial Advisors LLC boosted its holdings in shares of Cisco Systems by 1.7% in the fourth quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock worth $627,000 after buying an additional 173 shares during the period. SeaCrest Wealth Management LLC boosted its holdings in shares of Cisco Systems by 0.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock worth $1,879,000 after buying an additional 178 shares during the period. Aviso Wealth Management boosted its holdings in shares of Cisco Systems by 2.4% during the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after purchasing an additional 181 shares during the period. Finally, Waypoint Capital Advisors LLC boosted its holdings in shares of Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after purchasing an additional 182 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CSCO shares. Bank of America raised their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” 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 report on Thursday, November 14th. Wells Fargo & Company raised their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Piper Sandler lifted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Citigroup lifted their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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 firm has a market capitalization of $247.85 billion, a PE 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, Inc. has a 1 year low of $44.50 and a 1 year high of $62.31. The firm’s 50-day moving average is $59.22 and its 200-day moving average is $54.03.

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

Cisco Systems Dividend Announcement

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

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the transaction, the director now directly owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by corporate insiders.

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.