Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Steigerwald Gordon & Koch Inc.

Steigerwald Gordon & Koch Inc. cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,612 shares of the network equipment provider’s stock after selling 319 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in Cisco Systems were worth $865,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CSCO. State Street Corp increased its holdings in Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after buying an additional 3,241,682 shares during the period. Geode Capital Management LLC lifted its stake in Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after acquiring an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cisco Systems by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after acquiring an additional 1,677,383 shares during the last quarter. FMR LLC increased its stake in shares of Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after purchasing an additional 1,530,468 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 0.7 %

Shares of NASDAQ CSCO opened at $60.23 on Friday. The stock 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. The company has a current ratio of 0.88, a quick ratio of 0.80 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 $60.95. The company has a 50-day moving average of $58.91 and a 200 day moving average of $53.52.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CSCO shares. Citigroup increased their price target on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday. Tigress Financial raised their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Piper Sandler boosted 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. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Bank of America boosted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 58,188 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the transaction, the executive vice president now directly owns 219,100 shares in the company, valued at approximately $12,596,059. This represents a 20.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.

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.