Petredis Investment Advisors LLC Sells 1,134 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Petredis Investment Advisors LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,225 shares of the network equipment provider’s stock after selling 1,134 shares during the period. Petredis Investment Advisors LLC’s holdings in Cisco Systems were worth $3,684,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fred Alger Management LLC boosted its stake in Cisco Systems by 5.8% during the second quarter. Fred Alger Management LLC now owns 100,310 shares of the network equipment provider’s stock valued at $4,766,000 after buying an additional 5,471 shares during the period. MBB Public Markets I LLC boosted its stake in Cisco Systems by 1,409.3% during the second quarter. MBB Public Markets I LLC now owns 287,965 shares of the network equipment provider’s stock valued at $13,681,000 after buying an additional 268,885 shares during the period. Lighthouse Investment Partners LLC bought a new stake in Cisco Systems during the second quarter valued at $5,729,000. Legal & General Group Plc boosted its stake in Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after buying an additional 1,530,468 shares during the period. Finally, Smith Thornton Advisors LLC bought a new stake in Cisco Systems during the second quarter valued at $465,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $62.23 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $62.31. The company has a market cap of $247.85 billion, a PE ratio of 26.71, a P/E/G ratio of 4.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The stock’s 50-day moving average is $59.12 and its 200 day moving average is $53.92.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the previous year, the business earned $0.98 EPS. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.57%. Cisco Systems’s payout ratio is 68.67%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the sale, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Tigress Financial raised their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Barclays raised their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Finally, Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

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.