Amalgamated Bank Sells 49,777 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Amalgamated Bank trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 980,593 shares of the network equipment provider’s stock after selling 49,777 shares during the period. Amalgamated Bank’s holdings in Cisco Systems were worth $49,540,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC purchased a new position in Cisco Systems in the 4th quarter worth about $32,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $33,000. Morton Brown Family Wealth LLC boosted its stake in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 208 shares in the last quarter. Bourgeon Capital Management LLC increased its position in shares of Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth $43,000. 73.33% of the stock is currently owned by institutional investors.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock valued at $972,080 in the last three months. 0.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CSCO shares. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Morgan Stanley began coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target on the stock. Piper Sandler lifted their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Barclays raised their price objective on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, Wells Fargo & Company began coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and a consensus price target of $55.53.

Cisco Systems Stock Down 0.1 %

Shares of CSCO stock traded down $0.05 during trading on Thursday, hitting $46.79. 14,872,084 shares of the company were exchanged, compared to its average volume of 19,131,932. The business’s 50-day simple moving average is $48.86 and its 200 day simple moving average is $49.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The firm has a market capitalization of $189.46 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 2.71 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. Cisco Systems’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were issued a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.42%. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

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.