Daymark Wealth Partners LLC Trims Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Daymark Wealth Partners LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the fourth quarter, HoldingsChannel reports. The firm owned 395,560 shares of the network equipment provider’s stock after selling 6,029 shares during the period. Daymark Wealth Partners LLC’s holdings in Cisco Systems were worth $23,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. Albion Financial Group UT increased its holdings in Cisco Systems by 0.3% in the 4th quarter. Albion Financial Group UT now owns 158,815 shares of the network equipment provider’s stock worth $9,402,000 after acquiring an additional 432 shares in the last quarter. West Branch Capital LLC lifted its holdings in Cisco Systems by 10.7% in the 4th quarter. West Branch Capital LLC now owns 44,544 shares of the network equipment provider’s stock worth $2,637,000 after purchasing an additional 4,304 shares in the last quarter. MBM Wealth Consultants LLC grew its holdings in Cisco Systems by 6.6% during the 4th quarter. MBM Wealth Consultants LLC now owns 5,317 shares of the network equipment provider’s stock valued at $314,000 after buying an additional 331 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Cisco Systems by 17.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,299,562 shares of the network equipment provider’s stock worth $136,134,000 after purchasing an additional 339,393 shares in the last quarter. Finally, Simon Quick Advisors LLC grew its holdings in Cisco Systems by 5.3% during the 4th quarter. Simon Quick Advisors LLC now owns 21,743 shares of the network equipment provider’s stock valued at $1,287,000 after buying an additional 1,098 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In related news, CEO Charles Robbins sold 171,744 shares of the firm’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 $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock worth $20,349,721 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Up 1.3 %

Shares of NASDAQ CSCO opened at $61.03 on Wednesday. The business has a fifty day moving average price of $58.99 and a 200 day moving average price of $53.81. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $61.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The stock has a market capitalization of $243.07 billion, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 4.48 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley increased their target price on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup increased their price target on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. Piper Sandler raised their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock 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 target price for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Finally, Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $61.50.

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.