Simmons Bank Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Simmons Bank decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,280 shares of the network equipment provider’s stock after selling 1,061 shares during the period. Simmons Bank’s holdings in Cisco Systems were worth $8,400,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC bought a new stake in Cisco Systems in the 4th quarter worth approximately $32,000. DiNuzzo Private Wealth Inc. bought a new stake in Cisco Systems in the 4th quarter worth approximately $33,000. Morton Brown Family Wealth LLC lifted its position 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 buying an additional 208 shares during the last quarter. Bourgeon Capital Management LLC lifted its position 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 buying an additional 700 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new stake in Cisco Systems in the 4th quarter worth approximately $43,000. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on 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 of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.75 during trading on Wednesday, hitting $48.03. The company had a trading volume of 9,172,955 shares, compared to its average volume of 18,948,213. The stock has a 50 day simple moving average of $48.75 and a 200 day simple moving average of $49.69. 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, Inc. has a 12 month low of $45.70 and a 12 month high of $58.19. The firm has a market capitalization of $194.48 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 2.72 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same quarter last year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were issued a $0.40 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. 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%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Citigroup assumed coverage on Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective for the company. Piper Sandler boosted their price objective on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Wells Fargo & Company assumed coverage on Cisco Systems in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective for the company. Finally, Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $55.00 to $60.00 in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.53.

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.