Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by GEM Asset Management LLC

GEM Asset Management LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,198 shares of the network equipment provider’s stock after selling 314 shares during the quarter. GEM Asset Management LLC’s holdings in Cisco Systems were worth $426,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC boosted 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 acquiring an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems during the 3rd quarter worth $40,000. Decker Retirement Planning Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter worth $49,000. Capital Performance Advisors LLP acquired a new stake in shares of Cisco Systems in the third quarter valued at about $51,000. Finally, FSA Wealth Management LLC acquired a new position in Cisco Systems during the third quarter worth about $56,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.6 %

Shares of NASDAQ:CSCO opened at $62.43 on Wednesday. The firm’s 50-day moving average is $59.78 and its two-hundred day moving average is $55.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $63.25. The firm has a market capitalization of $248.64 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last announced its 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 net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the prior year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on CSCO. Wells Fargo & Company increased their price objective 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. Piper Sandler increased their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Tuesday, January 28th. Barclays raised their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, Citigroup boosted their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $62.72.

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.