Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by City Holding Co.

City Holding Co. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,196 shares of the network equipment provider’s stock after selling 1,373 shares during the quarter. City Holding Co.’s holdings in Cisco Systems were worth $1,965,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CSCO. West Financial Advisors LLC raised its stake in shares of 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 buying an additional 309 shares in the last quarter. Highline Wealth Partners LLC lifted its holdings in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares during the last quarter. Quarry LP boosted its position in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Cisco Systems during the fourth quarter worth approximately $49,000. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the company’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 $45,059,857.14. This represents a 17.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction dated 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 directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,522 shares of company stock worth $20,349,721. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $60.23 on Monday. The company’s fifty day simple moving average is $58.91 and its 200-day simple moving average is $53.57. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $239.88 billion, a PE ratio of 25.85, a P/E/G ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.95.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share 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 firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. The business’s quarterly revenue was down 5.6% on a year-over-year basis. Equities research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler raised their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. 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. Tigress Financial upped their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, UBS Group increased their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

About Cisco Systems

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.