Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 18.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,577 shares of the network equipment provider’s stock after selling 2,843 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Cisco Systems were worth $635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wealthspire Advisors LLC boosted its stake in shares of Cisco Systems by 48.1% during the 3rd quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after acquiring an additional 23,194 shares in the last quarter. Roble Belko & Company Inc boosted its position in Cisco Systems by 77.1% during the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock worth $324,000 after purchasing an additional 2,788 shares in the last quarter. HBK Sorce Advisory LLC grew its holdings in Cisco Systems by 0.5% in the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock valued at $3,448,000 after purchasing an additional 301 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Cisco Systems in the fourth quarter valued at $28,685,000. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Cisco Systems by 1.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after buying an additional 49,700 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CSCO. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Barclays upped their target price on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Piper Sandler raised their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Finally, Citigroup began coverage on Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and an average target price of $55.53.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 over the last quarter. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Stock Down 0.5 %

Shares of NASDAQ CSCO opened at $47.86 on Friday. The stock has a market capitalization of $193.79 billion, a PE ratio of 14.55, a P/E/G ratio of 2.76 and a beta of 0.87. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $48.94 and a 200-day moving average of $50.04. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were issued a $0.40 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.34%. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is currently 48.63%.

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.