Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Glenview Trust co

Glenview Trust co reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 467,047 shares of the network equipment provider’s stock after selling 4,029 shares during the quarter. Glenview Trust co’s holdings in Cisco Systems were worth $27,649,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CSCO. Swedbank AB boosted its holdings in shares of Cisco Systems by 0.6% in the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after acquiring an additional 52,711 shares in the last quarter. Northcape Wealth Management LLC boosted its stake in Cisco Systems by 1.6% during the 3rd quarter. Northcape Wealth Management LLC now owns 59,365 shares of the network equipment provider’s stock valued at $3,159,000 after purchasing an additional 963 shares in the last quarter. Seelaus Asset Management LLC increased its position in shares of Cisco Systems by 10.7% during the 3rd quarter. Seelaus Asset Management LLC now owns 11,247 shares of the network equipment provider’s stock valued at $599,000 after purchasing an additional 1,086 shares during the period. Natixis Advisors LLC raised its stake in shares of Cisco Systems by 9.9% in the 3rd quarter. Natixis Advisors LLC now owns 2,652,863 shares of the network equipment provider’s stock worth $141,186,000 after buying an additional 238,210 shares in the last quarter. Finally, RIA Advisory Group LLC acquired a new stake in shares of Cisco Systems in the third quarter valued at $835,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CSCO shares. Piper Sandler reiterated a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. Citigroup reiterated an “overweight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems Trading Up 1.4 %

Shares of NASDAQ:CSCO opened at $60.50 on Friday. The firm has a fifty day moving average of $61.79 and a two-hundred day moving average of $57.75. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The firm has a market capitalization of $240.69 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.71%. Cisco Systems’s dividend payout ratio is 71.62%.

Cisco Systems declared that its board has authorized a share buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This represents a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by corporate insiders.

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.