Atlantic Union Bankshares Corp Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Atlantic Union Bankshares Corp reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 212,464 shares of the network equipment provider’s stock after selling 1,012 shares during the quarter. Cisco Systems makes up 1.0% of Atlantic Union Bankshares Corp’s holdings, making the stock its 19th biggest holding. Atlantic Union Bankshares Corp’s holdings in Cisco Systems were worth $10,734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Dimensions Group Ltd. raised its stake in Cisco Systems by 1.4% during the second quarter. Wealth Dimensions Group Ltd. now owns 13,401 shares of the network equipment provider’s stock worth $693,000 after purchasing an additional 188 shares during the period. Strong Tower Advisory Services raised its stake in shares of Cisco Systems by 1.3% in the 3rd quarter. Strong Tower Advisory Services now owns 14,831 shares of the network equipment provider’s stock valued at $797,000 after acquiring an additional 190 shares during the period. Richard W. Paul & Associates LLC raised its stake in shares of Cisco Systems by 0.9% in the 3rd quarter. Richard W. Paul & Associates LLC now owns 20,996 shares of the network equipment provider’s stock valued at $1,129,000 after acquiring an additional 191 shares during the period. Cassia Capital Partners LLC raised its stake in shares of Cisco Systems by 1.4% in the 3rd quarter. Cassia Capital Partners LLC now owns 13,950 shares of the network equipment provider’s stock valued at $750,000 after acquiring an additional 191 shares during the period. Finally, Waddell & Associates LLC raised its stake in shares of Cisco Systems by 0.8% in the 3rd quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock valued at $1,328,000 after acquiring an additional 191 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CSCO. Piper Sandler raised their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Melius Research reaffirmed a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a report on Monday, January 8th. Barclays raised their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, UBS Group raised their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.42.

Cisco Systems Stock Up 0.3 %

CSCO stock traded up $0.14 during mid-day trading on Friday, hitting $49.91. 18,139,735 shares of the company were exchanged, compared to its average volume of 20,822,376. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The firm has a fifty day simple moving average of $49.75 and a 200 day simple moving average of $50.92. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $202.10 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 2.25 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS 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 business had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. During the same period in the previous year, the business posted $0.76 EPS. The company’s quarterly revenue was down 5.9% on a year-over-year basis. On average, research analysts forecast that Cisco Systems, Inc. will post 3.16 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is 47.42%.

Insider Buying and Selling at Cisco Systems

In other news, 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 value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a filing with the SEC, 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 transaction, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. 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 90 days. 0.02% of the stock is currently owned by company insiders.

About Cisco Systems

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.