Alliance Wealth Advisors LLC UT Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Alliance Wealth Advisors LLC UT reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 32.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,990 shares of the network equipment provider’s stock after selling 7,817 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in Cisco Systems were worth $947,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Morse Asset Management Inc acquired a new stake in shares of Cisco Systems during the third quarter worth $798,000. HighVista Strategies LLC acquired a new position in Cisco Systems during the third quarter worth $1,698,000. GAMMA Investing LLC raised its position in Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after purchasing an additional 10,813 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in Cisco Systems by 10.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after purchasing an additional 162,544 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in Cisco Systems during the 3rd quarter worth $502,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Shares of CSCO opened at $61.04 on Tuesday. The stock has a market cap of $243.11 billion, a PE ratio of 26.20, a PEG ratio of 4.51 and a beta of 0.84. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $59.44 and a two-hundred day simple moving average of $54.58. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $62.31.

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

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid 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 2.62%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the transaction, the senior vice president now owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems 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 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 disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 in the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CSCO shares. Piper Sandler upped their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Bank of America boosted their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Tigress Financial increased their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company raised their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems 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.