Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 637,285 shares of the network equipment provider’s stock after selling 44,258 shares during the period. New York Life Investment Management LLC’s holdings in Cisco Systems were worth $32,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CSCO. Kathleen S. Wright Associates Inc. acquired a new position in Cisco Systems during the third quarter worth $27,000. Valued Wealth Advisors LLC acquired a new position in Cisco Systems during the fourth quarter worth $32,000. DiNuzzo Private Wealth Inc. acquired a new position in Cisco Systems during the fourth quarter worth $33,000. Morton Brown Family Wealth LLC raised its position in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC raised its position in 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 acquiring an additional 700 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’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 of the company’s stock, valued at approximately $2,906,050. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CSCO shares. Melius Research restated a “hold” rating and set a $55.00 price objective on shares of Cisco Systems in a research report on Monday, January 8th. Wells Fargo & Company initiated coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 target price for the company. Piper Sandler increased their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Barclays increased their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Finally, Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Cisco Systems has a consensus rating of “Hold” and a consensus target price of $55.53.

Cisco Systems Trading Down 0.3 %

CSCO stock traded down $0.14 during mid-day trading on Wednesday, hitting $46.84. 18,026,494 shares of the company were exchanged, compared to its average volume of 19,235,400. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $189.66 billion, a P/E ratio of 14.28, a PEG ratio of 2.76 and a beta of 0.87. The business has a fifty day simple moving average of $48.90 and a 200-day simple moving average of $49.92. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were paid a $0.40 dividend. 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.