Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by SouthState Corp

SouthState Corp lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 206,883 shares of the network equipment provider’s stock after selling 3,615 shares during the quarter. SouthState Corp’s holdings in Cisco Systems were worth $10,452,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CSCO. Valued Wealth Advisors LLC acquired a new position in Cisco Systems in the 4th quarter worth approximately $32,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Cisco Systems during the fourth quarter worth $33,000. Morton Brown Family Wealth LLC boosted its holdings 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 during the last quarter. Bourgeon Capital Management LLC lifted its stake in Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the period. Finally, Rakuten Securities Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $43,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Down 0.1 %

NASDAQ CSCO traded down $0.05 during trading hours on Thursday, reaching $46.79. 14,877,005 shares of the company traded hands, compared to its average volume of 19,186,947. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The company has a 50 day moving average of $48.86 and a two-hundred day moving average of $49.90. The stock has a market capitalization of $189.46 billion, a PE ratio of 14.24, a PEG ratio of 2.71 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last issued 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. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same quarter last year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $60.00 in a report on Monday, April 15th. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Wells Fargo & Company initiated coverage on Cisco Systems in a report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Finally, Melius Research reiterated a “hold” rating and issued a $55.00 price objective on shares of Cisco Systems in a report on Monday, January 8th. Two equities 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.53.

Insider Activity

In other news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’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 sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 over the last quarter. 0.02% of the stock is currently owned by company 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.