Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Abbot Financial Management Inc.

Abbot Financial Management Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,802 shares of the network equipment provider’s stock after selling 1,478 shares during the period. Cisco Systems comprises 1.7% of Abbot Financial Management Inc.’s investment portfolio, making the stock its 12th largest position. Abbot Financial Management Inc.’s holdings in Cisco Systems were worth $3,126,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Gilbert & Cook Inc. boosted its holdings in Cisco Systems by 1.1% in the 4th quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock worth $1,183,000 after acquiring an additional 264 shares during the period. Gryphon Financial Partners LLC grew its holdings in Cisco Systems by 104.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock valued at $1,177,000 after purchasing an additional 11,767 shares in the last quarter. Sachetta LLC purchased a new stake in Cisco Systems during the 4th quarter worth $306,000. D.A. Davidson & CO. lifted its holdings in Cisco Systems by 0.7% in the 4th quarter. D.A. Davidson & CO. now owns 551,950 shares of the network equipment provider’s stock worth $27,885,000 after buying an additional 3,588 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in Cisco Systems by 2.8% in the 4th quarter. Corient Private Wealth LLC now owns 3,022,427 shares of the network equipment provider’s stock valued at $152,693,000 after buying an additional 82,374 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of several recent analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, August 15th. Rosenblatt Securities upped their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $58.00 in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average target price of $55.89.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at $8,181,307.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 in the last quarter. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $51.03 on Tuesday. The firm has a fifty day moving average of $48.15 and a 200-day moving average of $47.98. The company has a market cap of $205.59 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $56.28.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the business posted $1.01 EPS. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.14%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

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.