Patten & Patten Inc. TN Sells 7,020 Shares of Cisco Systems, Inc. $CSCO

Patten & Patten Inc. TN lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 115,604 shares of the network equipment provider’s stock after selling 7,020 shares during the quarter. Patten & Patten Inc. TN’s holdings in Cisco Systems were worth $8,905,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Lighthouse Financial Services Inc. ADV purchased a new stake in Cisco Systems in the 4th quarter worth about $4,861,000. Merrithew & Thorsten Inc purchased a new stake in Cisco Systems in the 4th quarter worth about $103,000. Chesapeake Wealth Management increased its holdings in Cisco Systems by 11.0% in the 4th quarter. Chesapeake Wealth Management now owns 23,489 shares of the network equipment provider’s stock worth $1,809,000 after acquiring an additional 2,330 shares during the last quarter. Strategic Wealth Advisors LLC purchased a new stake in Cisco Systems in the 4th quarter worth about $42,000. Finally, Anfield Capital Management LLC increased its holdings in Cisco Systems by 248.9% in the 4th quarter. Anfield Capital Management LLC now owns 485 shares of the network equipment provider’s stock worth $37,000 after acquiring an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of several recent research reports. Argus raised Cisco Systems to a “strong-buy” rating in a report on Friday, February 13th. Evercore lifted their price objective on Cisco Systems from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Truist Financial initiated coverage on Cisco Systems in a report on Tuesday, March 31st. They issued a “buy” rating and a $94.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Cisco Systems in a report on Thursday, February 12th. Finally, BNP Paribas Exane lifted their target price on Cisco Systems from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average target price of $90.29.

Cisco Systems Stock Up 4.8%

CSCO stock opened at $96.57 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $381.44 billion, a PE ratio of 33.88, a PEG ratio of 3.46 and a beta of 0.92. Cisco Systems, Inc. has a twelve month low of $59.44 and a twelve month high of $97.02. The stock has a 50-day simple moving average of $82.32 and a two-hundred day simple moving average of $78.56.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The business had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. On average, equities analysts predict that Cisco Systems, Inc. will post 3.42 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, April 2nd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s payout ratio is presently 58.95%.

Key Headlines Impacting Cisco Systems

Here are the key news stories impacting Cisco Systems this week:

• Positive Sentiment: Cisco is drawing heavier investor attention ahead of earnings, which can support trading volume and sentiment as traders position for a potential report-driven move. Cisco Systems, Inc. (CSCO) Is a Trending Stock: Facts to Know Before Betting on It
• Positive Sentiment: Analysts are continuing to frame Cisco’s investment case around its next quarterly results, with some views slightly improving fair value estimates, suggesting lingering confidence in the company’s fundamentals. How The Cisco Systems (CSCO) Investment Story Is Shifting As Analyst Views Diverge
• Neutral Sentiment: Cisco is set to participate in multiple upcoming financial-community events in May and June, which keeps management visible to investors but does not directly change the fundamentals. Cisco to Participate in May & June Events with the Financial Community
• Neutral Sentiment: Wall Street estimates for Cisco’s upcoming quarter are being closely dissected, but this is mainly an expectations check ahead of earnings rather than a new business catalyst. Unlocking Q3 Potential of Cisco (CSCO): Exploring Wall Street Estimates for Key Metrics
• Negative Sentiment: Recent coverage noted Cisco shares underperformed the broader market and dropped in the latest session, showing some near-term pressure before the company’s next earnings catalyst. Cisco Systems (CSCO) Stock Drops Despite Market Gains: Important Facts to Note

Insider Activity

In other news, SVP Maria Victoria Wong sold 551 shares of Cisco Systems stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $77.54, for a total transaction of $42,724.54. Following the completion of the sale, the senior vice president owned 27,957 shares in the company, valued at approximately $2,167,785.78. This trade represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 19,545 shares of Cisco Systems stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $1,485,420.00. Following the sale, the chief executive officer owned 671,095 shares of the company’s stock, valued at approximately $51,003,220. This trade represents a 2.83% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 46,431 shares of company stock worth $3,574,820. Company insiders own 0.01% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.