Romano Brothers AND Company Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Romano Brothers AND Company decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,223 shares of the network equipment provider’s stock after selling 400 shares during the quarter. Cisco Systems comprises approximately 1.2% of Romano Brothers AND Company’s portfolio, making the stock its 14th biggest position. Romano Brothers AND Company’s holdings in Cisco Systems were worth $9,248,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after purchasing an additional 288,775 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of Cisco Systems in the 3rd quarter worth about $798,000. HighVista Strategies LLC bought a new position in shares of Cisco Systems in the 3rd quarter worth about $1,698,000. GAMMA Investing LLC lifted its position in Cisco Systems by 13.1% during the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after acquiring an additional 10,813 shares during the period. Finally, Commerzbank Aktiengesellschaft FI grew 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 worth $88,261,000 after purchasing an additional 162,544 shares during the period. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CSCO. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Morgan Stanley upped their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Piper Sandler boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.50.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 58,188 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the transaction, the executive vice president now owns 219,100 shares of the company’s stock, valued at approximately $12,596,059. The trade was a 20.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by insiders.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $60.23 on Friday. The company has a market capitalization of $239.88 billion, a P/E ratio of 25.85, a P/E/G ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.95. The firm’s 50 day simple moving average is $58.91 and its two-hundred day simple moving average is $53.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. Research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. Cisco Systems’s payout ratio is 68.67%.

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.