Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Nichols & Pratt Advisers LLP MA

by · The Markets Daily

Nichols & Pratt Advisers LLP MA reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 6.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,068 shares of the network equipment provider’s stock after selling 14,302 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in Cisco Systems were worth $11,853,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC raised its stake in shares of Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after acquiring an additional 13,285,052 shares during the period. Norges Bank purchased a new position in shares of Cisco Systems in the 4th quarter valued at $3,297,905,000. Northern Trust Corp raised its stake in shares of Cisco Systems by 11.4% in the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock valued at $2,796,505,000 after acquiring an additional 4,832,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cisco Systems by 7.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider’s stock valued at $2,159,099,000 after acquiring an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Cisco Systems by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock valued at $1,741,597,000 after acquiring an additional 681,555 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Shares of CSCO opened at $69.64 on Friday. The company has a market cap of $275.77 billion, a P/E ratio of 28.42, a PEG ratio of 4.10 and a beta of 0.90. The stock has a fifty day moving average price of $63.67 and a 200 day moving average price of $61.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the business earned $0.88 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. On average, research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.35%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Rosenblatt Securities boosted their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, New Street Research reissued a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $69.53.

Get Our Latest Stock Report on Cisco Systems

Insider Activity at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the business’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer owned 309,543 shares in the company, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the sale, the chief executive officer owned 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Profile

(Free Report)

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.

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