Busey Bank Lowers Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Busey Bank lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 175,338 shares of the network equipment provider’s stock after selling 2,165 shares during the period. Busey Bank’s holdings in Cisco Systems were worth $10,380,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Murphy Pohlad Asset Management LLC boosted its position in Cisco Systems by 11.0% during the fourth quarter. Murphy Pohlad Asset Management LLC now owns 64,348 shares of the network equipment provider’s stock worth $3,809,000 after purchasing an additional 6,400 shares in the last quarter. First Affirmative Financial Network raised its stake in shares of Cisco Systems by 6.4% during the 4th quarter. First Affirmative Financial Network now owns 20,970 shares of the network equipment provider’s stock worth $1,241,000 after buying an additional 1,257 shares during the period. Synergy Asset Management LLC lifted its position in shares of Cisco Systems by 1.0% during the 4th quarter. Synergy Asset Management LLC now owns 92,177 shares of the network equipment provider’s stock valued at $5,448,000 after buying an additional 936 shares in the last quarter. Strategic Planning Group LLC grew its stake in Cisco Systems by 2.0% in the 4th quarter. Strategic Planning Group LLC now owns 127,542 shares of the network equipment provider’s stock valued at $7,550,000 after acquiring an additional 2,540 shares during the period. Finally, Gries Financial LLC raised its position in Cisco Systems by 6.0% during the fourth quarter. Gries Financial LLC now owns 45,286 shares of the network equipment provider’s stock worth $2,681,000 after acquiring an additional 2,552 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSCO has been the topic of several research analyst reports. Morgan Stanley lifted their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler lifted their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a research note on Tuesday. Finally, Citigroup upped their price target on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price of $62.72.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now directly owns 65,915 shares of the company’s stock, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 in the last three months. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $59.55 on Thursday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $62.31. 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 company has a 50 day moving average price of $59.30 and a 200 day moving average price of $54.32. The stock has a market capitalization of $237.17 billion, a P/E ratio of 25.56, a PEG ratio of 4.59 and a beta of 0.84.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.69%. Cisco Systems’s dividend payout ratio (DPR) is presently 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.