Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Blue Barn Wealth LLC

Blue Barn Wealth LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 30.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,426 shares of the network equipment provider’s stock after selling 3,215 shares during the quarter. Blue Barn Wealth LLC’s holdings in Cisco Systems were worth $375,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in Cisco Systems by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after acquiring an additional 6,345,954 shares during the last quarter. FMR LLC grew its holdings in shares of Cisco Systems by 3.2% during the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after purchasing an additional 1,790,717 shares during the period. Northern Trust Corp increased its position in shares of Cisco Systems by 3.8% during the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after purchasing an additional 1,847,682 shares during the last quarter. Invesco Ltd. raised its holdings in Cisco Systems by 3.7% in the 3rd quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock valued at $1,802,909,000 after buying an additional 1,181,327 shares during the period. Finally, California Public Employees Retirement System lifted its position in Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after buying an additional 3,753,165 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target 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. Wells Fargo & Company began coverage on Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target for the company. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $60.00 in a report on Monday, April 15th. Piper Sandler raised their target price on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Finally, UBS Group lifted their target price on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and an average price target of $55.53.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.72 on Wednesday, reaching $48.00. The company’s stock had a trading volume of 15,014,885 shares, compared to its average volume of 19,020,025. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. Cisco Systems, Inc. has a 52-week low of $45.70 and a 52-week high of $58.19. The stock’s 50-day moving average is $48.75 and its two-hundred day moving average is $49.69. The stock has a market capitalization of $194.36 billion, a P/E ratio of 14.37, a PEG ratio of 2.72 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.33%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s payout ratio is 48.63%.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 over the last ninety days. Corporate insiders own 0.02% 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.