Tritonpoint Wealth LLC Sells 3,014 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Tritonpoint Wealth LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,478 shares of the network equipment provider’s stock after selling 3,014 shares during the period. Tritonpoint Wealth LLC’s holdings in Cisco Systems were worth $1,094,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CSCO. Quarry LP lifted its holdings in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the period. Czech National Bank lifted its holdings in Cisco Systems by 6.4% during the 3rd quarter. Czech National Bank now owns 820,712 shares of the network equipment provider’s stock valued at $43,678,000 after purchasing an additional 49,100 shares during the last quarter. GAMMA Investing LLC grew its stake in Cisco Systems by 19.4% during the third quarter. GAMMA Investing LLC now owns 82,544 shares of the network equipment provider’s stock worth $4,393,000 after buying an additional 13,406 shares during the last quarter. Azzad Asset Management Inc. ADV increased its holdings in shares of Cisco Systems by 2.3% during the third quarter. Azzad Asset Management Inc. ADV now owns 39,516 shares of the network equipment provider’s stock worth $2,103,000 after buying an additional 907 shares in the last quarter. Finally, Diversified Trust Co raised its stake in shares of Cisco Systems by 3.6% in the third quarter. Diversified Trust Co now owns 51,885 shares of the network equipment provider’s stock valued at $2,761,000 after acquiring an additional 1,827 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Trading Up 0.2 %

Shares of NASDAQ:CSCO opened at $60.60 on Monday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $62.31. The business has a 50 day moving average of $59.44 and a 200-day moving average of $54.54. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The stock has a market cap of $241.36 billion, a PE ratio of 26.01, a P/E/G ratio of 4.43 and a beta of 0.84.

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

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler raised their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Barclays raised their target price on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Finally, Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.72.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction 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. This represents a 19.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock worth $20,349,721 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

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.