Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Cut by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,665 shares of the network equipment provider’s stock after selling 1,057 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Cisco Systems were worth $454,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CSCO. Highline Wealth Partners LLC increased its position in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after buying an additional 260 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter worth about $40,000. Decker Retirement Planning Inc. bought a new stake in Cisco Systems in the 4th quarter valued at about $49,000. Capital Performance Advisors LLP acquired a new position in Cisco Systems during the 3rd quarter valued at about $51,000. Finally, FSA Wealth Management LLC bought a new position in Cisco Systems in the 3rd quarter worth about $56,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Cisco Systems stock opened at $62.27 on Monday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $63.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm has a market capitalization of $248.01 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 4.63 and a beta of 0.84. The company has a 50 day moving average price of $59.71 and a 200 day moving average price of $55.04.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business 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%. Cisco Systems’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. Research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler lifted 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 Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Bank of America raised their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their target price for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Finally, Wells Fargo & Company boosted their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.72.

Insider Activity at Cisco Systems

In related news, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the sale, the director now owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. This trade represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly 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. Over the last three months, insiders have sold 353,522 shares of company stock valued at $20,349,721. Corporate insiders own 0.01% of the company’s stock.

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.