Stokes Family Office LLC Sells 26,602 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Stokes Family Office LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 34.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,690 shares of the network equipment provider’s stock after selling 26,602 shares during the period. Stokes Family Office LLC’s holdings in Cisco Systems were worth $2,510,000 at the end of the most recent quarter.

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

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.33 during trading hours on Friday, reaching $47.12. 17,933,915 shares of the stock were exchanged, compared to its average volume of 19,178,939. The firm has a market capitalization of $190.80 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 2.70 and a beta of 0.87. The stock’s fifty day simple moving average is $48.83 and its 200 day simple moving average is $49.88. 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 52 week low of $45.56 and a 52 week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same period in the prior year, the firm posted $0.76 EPS. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. Sell-side analysts predict that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were paid a $0.40 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.40%. Cisco Systems’s payout ratio is 48.63%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CSCO shares. Barclays increased their price target on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday. JPMorgan Chase & Co. started coverage on shares of Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price on the stock. 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 for the company. Finally, Piper Sandler lifted their price objective 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. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus target price of $55.53.

Insider Buying and Selling at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a filing with the SEC, which is available at this link. In related 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 transaction of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 in the last quarter. Company insiders own 0.02% of the company’s stock.

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.