Wimmer Associates 1 LLC Sells 255 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Wimmer Associates 1 LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,997 shares of the network equipment provider’s stock after selling 255 shares during the quarter. Cisco Systems accounts for approximately 1.4% of Wimmer Associates 1 LLC’s investment portfolio, making the stock its 16th biggest holding. Wimmer Associates 1 LLC’s holdings in Cisco Systems were worth $2,841,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. St. Clair Advisors LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at $1,527,000. Triglav Skladi D.O.O. acquired a new position in shares of Cisco Systems in the fourth quarter valued at $2,312,000. Tybourne Capital Management HK Ltd. increased its holdings in shares of Cisco Systems by 561.3% in the fourth quarter. Tybourne Capital Management HK Ltd. now owns 92,501 shares of the network equipment provider’s stock valued at $5,476,000 after purchasing an additional 78,513 shares during the last quarter. Texas Bank & Trust Co acquired a new position in shares of Cisco Systems in the fourth quarter valued at $2,758,000. Finally, Tolleson Wealth Management Inc. acquired a new position in shares of Cisco Systems in the fourth quarter valued at $327,000. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 11,808 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $64.37, for a total transaction of $760,080.96. Following the transaction, the executive vice president now directly owns 200,191 shares in the company, valued at approximately $12,886,294.67. The trade was a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,635 shares of company stock valued at $931,901. 0.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several research reports. StockNews.com upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday. Morgan Stanley upped their price objective on shares of Cisco Systems from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday. Barclays upped their price target on shares of Cisco Systems from $61.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday. New Street Research restated a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday. Finally, Piper Sandler upped their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $63.62 on Monday. The company has a fifty day simple moving average of $58.75 and a 200 day simple moving average of $59.72. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market cap of $253.10 billion, a P/E ratio of 27.78, a PEG ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the firm posted $0.88 EPS. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has authorized a stock repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.58%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 71.62%.

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.