OLD National Bancorp IN Sells 4,870 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

OLD National Bancorp IN cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 215,451 shares of the network equipment provider’s stock after selling 4,870 shares during the quarter. OLD National Bancorp IN’s holdings in Cisco Systems were worth $12,755,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Morse Asset Management Inc purchased a new stake in shares of Cisco Systems during the 3rd quarter valued at $798,000. HighVista Strategies LLC purchased a new stake in shares of Cisco Systems during the third quarter worth about $1,698,000. GAMMA Investing LLC increased its holdings in shares of Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after acquiring an additional 10,813 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after purchasing an additional 162,544 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in Cisco Systems during the 3rd quarter worth approximately $502,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In related news, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the transaction, the director now owns 65,915 shares in the company, valued at $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CSCO. Piper Sandler lifted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Morgan Stanley lifted their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Barclays lifted their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Bank of America increased their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Trading Up 0.2 %

CSCO stock opened at $59.55 on Thursday. The business’s 50-day moving average is $59.30 and its 200 day moving average is $54.32. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $62.31. The stock has a market cap of $237.17 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 4.59 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 (NASDAQ:CSCO) last posted its quarterly earnings data 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. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the prior year, the company earned $0.98 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a dividend of $0.40 per share. The ex-dividend date was Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.69%. Cisco Systems’s dividend payout ratio is presently 68.67%.

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.