Addenda Capital Inc. Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Addenda Capital Inc. lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 117,821 shares of the network equipment provider’s stock after selling 335 shares during the quarter. Addenda Capital Inc.’s holdings in Cisco Systems were worth $6,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CSCO. Quarry LP raised its stake in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC raised its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Highline Wealth Partners LLC raised its stake in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Cisco Systems in the third quarter worth $40,000. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth $49,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 50,767 shares in the company, valued at $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the transaction, the executive vice president now directly owns 207,798 shares in the company, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over 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 Price Performance

Shares of Cisco Systems stock opened at $60.23 on Tuesday. The stock’s 50-day simple moving average is $58.91 and its 200-day simple moving average is $53.61. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.95. The company has a market capitalization of $239.88 billion, a price-to-earnings ratio of 25.85, a PEG 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 (NASDAQ:CSCO) last posted 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. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share 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 given a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. Cisco Systems’s dividend payout ratio is currently 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.