Sara Bay Financial Sells 204 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sara Bay Financial reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,491 shares of the network equipment provider’s stock after selling 204 shares during the period. Sara Bay Financial’s holdings in Cisco Systems were worth $783,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. grew its holdings in Cisco Systems by 8.4% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 13,811 shares of the network equipment provider’s stock worth $698,000 after purchasing an additional 1,072 shares during the period. Advisor Resource Council purchased a new stake in Cisco Systems in the fourth quarter worth about $786,000. Fortitude Family Office LLC purchased a new stake in Cisco Systems in the fourth quarter worth about $223,000. My Legacy Advisors LLC grew its holdings in shares of Cisco Systems by 5.0% during the fourth quarter. My Legacy Advisors LLC now owns 14,622 shares of the network equipment provider’s stock valued at $738,000 after buying an additional 692 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its holdings in shares of Cisco Systems by 4.3% during the fourth quarter. Financial Management Professionals Inc. now owns 8,732 shares of the network equipment provider’s stock valued at $441,000 after buying an additional 360 shares during the last quarter. 72.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated 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 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 filing with the SEC, which is available through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems 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 in the company, valued at approximately $9,579,865.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following 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. In the last ninety days, insiders sold 19,441 shares of company stock valued at $972,080. Company insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded up $0.33 on Thursday, reaching $49.88. The company’s stock had a trading volume of 26,102,454 shares, compared to its average volume of 20,204,578. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The company has a market cap of $201.97 billion, a P/E ratio of 15.16, a PEG ratio of 2.22 and a beta of 0.87. The company has a 50-day simple moving average of $49.84 and a 200 day simple moving average of $51.19. 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 (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. During the same period last year, the company posted $0.76 EPS. The business’s revenue was down 5.9% on a year-over-year basis. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.17 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, April 3rd. This is a boost 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 3.21%. Cisco Systems’s payout ratio is currently 47.42%.

Analysts Set New Price Targets

A number of research firms have recently commented on CSCO. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Piper Sandler increased their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday. Melius Research reiterated a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a report on Monday, January 8th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Barclays increased their price objective 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. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Cisco Systems has a consensus rating of “Hold” and a consensus price target of $56.42.

Cisco Systems Company 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.