Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,250 shares of the network equipment provider’s stock after selling 1,009 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Cisco Systems were worth $844,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new stake in shares of Cisco Systems during the 3rd quarter valued at about $798,000. HighVista Strategies LLC bought a new position in shares of Cisco Systems during the third quarter valued at approximately $1,698,000. GAMMA Investing LLC raised its position in shares of Cisco Systems by 13.1% during the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares during the period. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Cisco Systems by 10.9% in the 3rd 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 last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in Cisco Systems during the 3rd quarter valued at approximately $502,000. 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 that occurred 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 in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the transaction, the senior vice president now owns 51,931 shares in the company, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,522 shares of company stock worth $20,349,721. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $59.09 on Tuesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.31. The stock has a market capitalization of $235.35 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 4.59 and a beta of 0.84. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $59.22 and its 200 day simple moving average is $54.14.

Cisco Systems (NASDAQ:CSCO) last posted 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 return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CSCO. Piper Sandler increased their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Tigress Financial lifted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Barclays upped their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Morgan Stanley lifted their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Bank of America increased their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

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.