Nicholas Hoffman & Company LLC. Sells 1,184 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Nicholas Hoffman & Company LLC. trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,674 shares of the network equipment provider’s stock after selling 1,184 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Cisco Systems were worth $1,934,000 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. Highline Wealth Partners LLC raised its holdings in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Cisco Systems during the third quarter worth $40,000. Decker Retirement Planning Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at $49,000. Capital Performance Advisors LLP bought a new stake in Cisco Systems during the 3rd quarter worth about $51,000. Finally, FSA Wealth Management LLC bought a new stake in Cisco Systems during the 3rd quarter worth about $56,000. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at $3,101,838.63. The trade was a 8.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction dated 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 directly owns 65,915 shares in the company, valued at $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,239 shares of company stock valued at $2,166,612. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

CSCO stock opened at $64.87 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.88 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 cap of $258.36 billion, a P/E ratio of 27.84, a P/E/G ratio of 4.63 and a beta of 0.84. The company’s 50-day moving average price is $60.07 and its two-hundred day moving average price is $55.59.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. On average, analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

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

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.53%. Cisco Systems’s payout ratio is 71.62%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Bank of America boosted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company boosted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday. Citigroup boosted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler upped their target price on shares of Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday. Finally, UBS Group raised their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.53.

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.