Portside Wealth Group LLC Lowers Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Portside Wealth Group LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,506 shares of the network equipment provider’s stock after selling 3,131 shares during the quarter. Cisco Systems accounts for about 0.9% of Portside Wealth Group LLC’s holdings, making the stock its 24th biggest holding. Portside Wealth Group LLC’s holdings in Cisco Systems were worth $5,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CSCO. FMR LLC boosted its stake in shares of Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares during the period. Two Sigma Advisers LP raised its holdings in Cisco Systems by 327.5% during the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after buying an additional 5,223,800 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after buying an additional 4,842,542 shares during the period. National Bank of Canada FI grew its holdings in Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after acquiring an additional 3,975,028 shares during the last quarter. Finally, State Street Corp increased its holdings in Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the transaction, the director now owns 65,915 shares of the company’s stock, valued at $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the 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 of the company’s stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 353,522 shares of company stock valued at $20,349,721. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 0.7 %

Shares of Cisco Systems stock opened at $60.23 on Friday. 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 twelve month low of $44.50 and a twelve month high of $60.95. The company has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company’s 50 day moving average is $58.91 and its 200 day moving average is $53.52.

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

Cisco Systems Announces Dividend

The firm 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 dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.66%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays boosted their price objective 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. Citigroup raised their price objective on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler increased their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Finally, 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 report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $61.50.

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.