Central Bank & Trust Co. Has $2 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Central Bank & Trust Co. cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,785 shares of the network equipment provider’s stock after selling 520 shares during the period. Central Bank & Trust Co.’s holdings in Cisco Systems were worth $2,000,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP raised its stake in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC increased its holdings in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Highline Wealth Partners LLC lifted its holdings in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems in the 3rd quarter valued at approximately $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Cisco Systems during the 4th quarter worth approximately $49,000. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CSCO shares. Wells Fargo & Company upped their price target 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. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $55.00 to $66.00 in a report on Monday, November 11th. 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 upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Finally, Citigroup boosted their target price on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Up 0.7 %

Shares of CSCO opened at $60.23 on Tuesday. The firm has a market cap of $239.88 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.95. The firm’s 50-day simple moving average is $58.91 and its 200 day simple moving average is $53.61.

Cisco Systems (NASDAQ:CSCO) last posted its 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 company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

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

Cisco Systems Company 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.