Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,948 shares of the network equipment provider’s stock after selling 6,206 shares during the period. LaFleur & Godfrey LLC’s holdings in Cisco Systems were worth $5,088,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Seven Eight Capital LP purchased a new position in Cisco Systems during the 2nd quarter valued at about $242,000. Sei Investments Co. grew its position in shares of Cisco Systems by 13.7% in the second quarter. Sei Investments Co. now owns 2,041,220 shares of the network equipment provider’s stock valued at $96,984,000 after purchasing an additional 245,780 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Cisco Systems by 18.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 223,121 shares of the network equipment provider’s stock worth $10,600,000 after purchasing an additional 35,302 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Cisco Systems by 27.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 220,894 shares of the network equipment provider’s stock worth $10,495,000 after purchasing an additional 47,590 shares during the last quarter. Finally, Holderness Investments Co. lifted its stake in Cisco Systems by 0.3% in the 2nd quarter. Holderness Investments Co. now owns 85,215 shares of the network equipment provider’s stock valued at $4,049,000 after buying an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock worth $20,349,721 over the last quarter. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Up 0.7 %

Shares of NASDAQ:CSCO opened at $60.23 on Monday. The stock has a 50-day simple moving average of $58.91 and a 200-day simple moving average of $53.57. The stock has a market capitalization of $239.88 billion, a P/E ratio of 25.85, a PEG 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 company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

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

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Analyst Ratings Changes

Several research firms have weighed in on CSCO. Morgan Stanley raised their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Bank of America lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Finally, Piper Sandler raised their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.50.

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.