Martin Capital Partners LLC Sells 55,083 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Martin Capital Partners LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 58.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,734 shares of the network equipment provider’s stock after selling 55,083 shares during the period. Cisco Systems accounts for 2.7% of Martin Capital Partners LLC’s portfolio, making the stock its 9th largest holding. Martin Capital Partners LLC’s holdings in Cisco Systems were worth $2,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the business. Czech National Bank lifted its holdings in shares of Cisco Systems by 6.4% during the third quarter. Czech National Bank now owns 820,712 shares of the network equipment provider’s stock worth $43,678,000 after purchasing an additional 49,100 shares during the period. Azzad Asset Management Inc. ADV raised its stake in shares of Cisco Systems by 2.3% in the third quarter. Azzad Asset Management Inc. ADV now owns 39,516 shares of the network equipment provider’s stock valued at $2,103,000 after buying an additional 907 shares during the period. Diversified Trust Co boosted its holdings in shares of Cisco Systems by 3.6% in the third quarter. Diversified Trust Co now owns 51,885 shares of the network equipment provider’s stock worth $2,761,000 after acquiring an additional 1,827 shares during the period. Smith Anglin Financial LLC raised its holdings in shares of Cisco Systems by 15.4% in the 3rd quarter. Smith Anglin Financial LLC now owns 5,423 shares of the network equipment provider’s stock valued at $289,000 after acquiring an additional 725 shares in the last quarter. Finally, Miracle Mile Advisors LLC raised its holdings in shares of Cisco Systems by 13.7% during the 3rd quarter. Miracle Mile Advisors LLC now owns 12,436 shares of the network equipment provider’s stock valued at $662,000 after buying an additional 1,503 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction on Friday, November 15th. The stock was 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 represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 over the last three months. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CSCO. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Citigroup raised their target price on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Wells Fargo & Company raised their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Piper Sandler raised their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Stock Up 0.5 %

CSCO opened at $61.34 on Wednesday. The company has a market cap of $244.30 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 4.51 and a beta of 0.84. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $62.31. The business’s fifty day moving average is $59.52 and its two-hundred day moving average is $54.77. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

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

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.61%. Cisco Systems’s payout ratio is currently 68.67%.

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.