PSI Advisors LLC Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

PSI Advisors LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,880 shares of the network equipment provider’s stock after selling 804 shares during the period. PSI Advisors LLC’s holdings in Cisco Systems were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Traveka Wealth LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $201,000. AdvisorNet Financial Inc boosted its stake in Cisco Systems by 1.4% during the fourth quarter. AdvisorNet Financial Inc now owns 16,214 shares of the network equipment provider’s stock worth $960,000 after buying an additional 217 shares during the last quarter. First Financial Corp IN grew its holdings in Cisco Systems by 10.3% in the 4th quarter. First Financial Corp IN now owns 10,672 shares of the network equipment provider’s stock valued at $632,000 after buying an additional 993 shares in the last quarter. PFW Advisors LLC acquired a new stake in shares of Cisco Systems in the 4th quarter worth $2,360,000. Finally, Miracle Mile Advisors LLC raised its holdings in shares of Cisco Systems by 421.3% during the 4th quarter. Miracle Mile Advisors LLC now owns 64,832 shares of the network equipment provider’s stock worth $3,838,000 after acquiring an additional 52,396 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the transaction, the chief financial officer now owns 365,314 shares in the company, valued at approximately $21,001,901.86. This represents a 19.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the sale, the executive vice president now owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 over the last 90 days. 0.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CSCO shares. Citigroup upped their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Piper Sandler increased their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Barclays lifted their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. 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 research report on Thursday, November 14th. Finally, Evercore ISI lifted their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.28.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $58.76 on Tuesday. The firm has a 50 day moving average of $58.73 and a two-hundred day moving average of $53.26. The stock has a market capitalization of $234.03 billion, a PE ratio of 25.22, a P/E/G ratio of 4.37 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. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.23.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating 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 period last year, the business posted $0.98 earnings per share. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. On average, research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.72%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

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.