Magnolia Capital Management Ltd. Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Magnolia Capital Management Ltd. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,163 shares of the network equipment provider’s stock after selling 260 shares during the quarter. Cisco Systems accounts for approximately 1.5% of Magnolia Capital Management Ltd.’s holdings, making the stock its 15th biggest holding. Magnolia Capital Management Ltd.’s holdings in Cisco Systems were worth $1,845,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Quarry LP grew its holdings in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Highline Wealth Partners LLC increased its position in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems during the third quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Cisco Systems in the third quarter valued at approximately $51,000. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of several research reports. Bank of America raised 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. UBS Group lifted their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Piper Sandler boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Citigroup lifted 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. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.28.

Cisco Systems Trading Up 1.1 %

Cisco Systems stock opened at $59.98 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a market cap of $238.89 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 4.37 and a beta of 0.85. The stock has a 50-day moving average of $58.79 and a two-hundred day moving average of $53.34. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.34.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $13.78 billion. During the same period last year, the business earned $0.98 EPS. Cisco Systems’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, research analysts anticipate 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 paid a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of Cisco Systems 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. The trade was a 17.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the sale, the director now owns 65,915 shares in the company, valued at $3,946,331.05. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by company insiders.

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.