Cornell Pochily Investment Advisors Inc. Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cornell Pochily Investment Advisors Inc. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 32,409 shares of the network equipment provider’s stock after selling 594 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in Cisco Systems were worth $1,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. First National Corp MA ADV raised its stake in Cisco Systems by 9.0% during the fourth quarter. First National Corp MA ADV now owns 12,858 shares of the network equipment provider’s stock valued at $650,000 after buying an additional 1,057 shares during the last quarter. Planned Solutions Inc. purchased a new position in shares of Cisco Systems in the fourth quarter valued at about $289,000. Jacobs & Co. CA lifted its position in shares of Cisco Systems by 1.5% in the fourth quarter. Jacobs & Co. CA now owns 242,109 shares of the network equipment provider’s stock valued at $12,231,000 after acquiring an additional 3,636 shares in the last quarter. Courier Capital LLC lifted its position in shares of Cisco Systems by 8.2% in the fourth quarter. Courier Capital LLC now owns 148,611 shares of the network equipment provider’s stock worth $7,508,000 after buying an additional 11,239 shares in the last quarter. Finally, IFG Advisory LLC lifted its position in shares of Cisco Systems by 1.6% in the fourth quarter. IFG Advisory LLC now owns 74,873 shares of the network equipment provider’s stock worth $3,783,000 after buying an additional 1,189 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO traded up $0.31 during midday trading on Thursday, hitting $50.08. 2,522,748 shares of the company were exchanged, compared to its average volume of 19,671,684. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19. 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 firm has a market capitalization of $202.78 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 2.24 and a beta of 0.87. The company’s 50 day simple moving average is $49.78 and its 200 day simple moving average is $50.94.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same period in the previous year, the firm posted $0.76 EPS. Cisco Systems’s revenue was down 5.9% compared to the same quarter last year. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.16 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.19%. The ex-dividend date 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 presently 47.42%.

Insider Activity

In related news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on CSCO. Barclays upped their price objective 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 cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Piper Sandler upped their target price on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Melius cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, UBS Group increased their price objective on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.42.

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.