Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,294 shares of the network equipment provider’s stock after selling 872 shares during the period. Trifecta Capital Advisors LLC’s holdings in Cisco Systems were worth $491,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CSCO. Swedbank AB boosted its holdings in Cisco Systems by 0.6% during the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after buying an additional 52,711 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Cisco Systems by 6.8% during the third quarter. Assenagon Asset Management S.A. now owns 171,490 shares of the network equipment provider’s stock worth $9,127,000 after buying an additional 10,895 shares in the last quarter. First Financial Bankshares Inc boosted its holdings in Cisco Systems by 0.9% during the third quarter. First Financial Bankshares Inc now owns 987,077 shares of the network equipment provider’s stock worth $52,532,000 after buying an additional 9,045 shares in the last quarter. Kercheville Advisors LLC bought a new stake in Cisco Systems during the third quarter worth approximately $691,000. Finally, FSA Advisors Inc. bought a new stake in Cisco Systems during the third quarter worth approximately $267,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of a number of research reports. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Barclays raised their price objective on shares of Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Piper Sandler raised their price objective on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price of $66.53.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 11,808 shares of Cisco Systems stock in a transaction on Friday, February 21st. The shares were sold at an average price of $64.37, for a total value of $760,080.96. Following the transaction, the executive vice president now owns 200,191 shares in the company, valued at $12,886,294.67. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,729 shares of company stock worth $5,058,748. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Trading Down 1.2 %

Shares of NASDAQ:CSCO opened at $63.24 on Tuesday. The firm has a market capitalization of $251.59 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. The firm has a fifty day moving average of $60.75 and a two-hundred day moving average of $56.42. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.59%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 69.87%.

Cisco Systems declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.