Wright Investors Service Inc. Has $5.05 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Wright Investors Service Inc. trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 32.5% during the fourth quarter, Holdings Channel reports. The firm owned 99,934 shares of the network equipment provider’s stock after selling 48,080 shares during the period. Cisco Systems comprises 1.4% of Wright Investors Service Inc.’s holdings, making the stock its 14th biggest holding. Wright Investors Service Inc.’s holdings in Cisco Systems were worth $5,049,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CSCO. Kathleen S. Wright Associates Inc. acquired a new position in shares of Cisco Systems in the 3rd quarter worth approximately $27,000. Valued Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at $32,000. Morton Brown Family Wealth LLC boosted its stake in Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the period. Fortis Capital Advisors LLC acquired a new position in Cisco Systems in the 4th quarter worth $34,000. Finally, Bourgeon Capital Management LLC boosted its stake in 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 worth $36,000 after purchasing an additional 700 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on CSCO. 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 reiterated a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research report on Monday, January 8th. Morgan Stanley initiated coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Piper Sandler lifted their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.03.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’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 directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’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 directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s 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 completion of the sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 in the last three months. Insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO traded up $0.32 during trading hours on Thursday, reaching $48.11. 3,453,833 shares of the stock traded hands, compared to its average volume of 19,362,295. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The company’s 50-day moving average price is $49.14 and its two-hundred day moving average price is $50.31. The company has a market cap of $194.81 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 2.75 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.33%. Cisco Systems’s payout ratio is 48.63%.

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.