Addenda Capital Inc. Sells 335 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Addenda Capital Inc. lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,821 shares of the network equipment provider’s stock after selling 335 shares during the quarter. Addenda Capital Inc.’s holdings in Cisco Systems were worth $6,973,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Seven Eight Capital LP bought a new stake in Cisco Systems during the 2nd quarter valued at $242,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in Cisco Systems by 27.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 220,894 shares of the network equipment provider’s stock valued at $10,495,000 after acquiring an additional 47,590 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Cisco Systems by 3.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 14,811 shares of the network equipment provider’s stock valued at $718,000 after purchasing an additional 540 shares during the last quarter. DRW Securities LLC lifted its holdings in shares of Cisco Systems by 90.2% during the 2nd quarter. DRW Securities LLC now owns 22,283 shares of the network equipment provider’s stock valued at $1,059,000 after purchasing an additional 10,567 shares during the last quarter. Finally, Certified Advisory Corp lifted its holdings in shares of Cisco Systems by 9.7% during the 2nd quarter. Certified Advisory Corp now owns 6,075 shares of the network equipment provider’s stock valued at $289,000 after purchasing an additional 538 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CSCO shares. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $55.00 to $66.00 in a report on Monday, November 11th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Barclays raised their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Piper Sandler raised their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley raised their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Cisco Systems Trading Up 0.7 %

CSCO stock opened at $60.23 on Tuesday. 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 stock has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 4.37 and a beta of 0.84. The business’s 50-day moving average is $58.91 and its 200 day moving average is $53.61.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same period in the previous year, the firm posted $0.98 EPS. Cisco Systems’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 Announces Dividend

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

Insiders Place Their Bets

In other 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 transaction of $449,025.00. Following the sale, the director now owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. The trade was a 10.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the sale, the senior vice president now directly owns 51,931 shares in the company, valued at approximately $3,101,838.63. The trade was a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

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.