Talisman Wealth Advisors LLC Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Talisman Wealth Advisors LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,825 shares of the network equipment provider’s stock after selling 757 shares during the period. Talisman Wealth Advisors LLC’s holdings in Cisco Systems were worth $345,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $3,297,905,000. FMR LLC grew its stake in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Cisco Systems in the fourth quarter valued at $560,722,000. Alyeska Investment Group L.P. acquired a new stake in Cisco Systems in the fourth quarter valued at $413,491,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Cisco Systems by 187.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider’s stock worth $442,749,000 after buying an additional 4,880,747 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Tuesday, January 28th. Barclays raised their price objective on shares of Cisco Systems from $61.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, May 15th. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Piper Sandler boosted their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Cisco Systems Stock Up 0.5%

CSCO opened at $63.92 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The stock has a market capitalization of $254.29 billion, a P/E ratio of 27.91, a P/E/G ratio of 4.16 and a beta of 0.89. The business has a 50 day simple moving average of $58.82 and a 200-day simple moving average of $59.78.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the company earned $0.88 earnings per share. Cisco Systems’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.57%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems announced that its Board of Directors has approved a stock 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 repurchase up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 11,808 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the transaction, the executive vice president now owns 200,191 shares of the company’s stock, valued at approximately $12,886,294.67. The trade was a 5.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 14,635 shares of company stock valued at $931,901 in the last quarter. 0.01% of the stock is currently owned by corporate insiders.

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.