Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by First Fiduciary Investment Counsel Inc.

First Fiduciary Investment Counsel Inc. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 256,288 shares of the network equipment provider’s stock after selling 325 shares during the period. Cisco Systems accounts for 2.9% of First Fiduciary Investment Counsel Inc.’s portfolio, making the stock its 12th largest position. First Fiduciary Investment Counsel Inc.’s holdings in Cisco Systems were worth $12,948,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kathleen S. Wright Associates Inc. purchased a new stake in Cisco Systems during the third quarter worth approximately $27,000. Valued Wealth Advisors LLC purchased a new position in shares of Cisco Systems in the fourth quarter valued at $32,000. Morton Brown Family Wealth LLC boosted its stake in shares of Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares during the period. Bourgeon Capital Management LLC boosted its stake in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares during the period. Finally, Rakuten Securities Inc. purchased a new position in shares of Cisco Systems in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CSCO shares. Melius downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. 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 note on Thursday, February 15th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective on the stock. Finally, Piper Sandler increased their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.53.

Cisco Systems Stock Down 0.5 %

CSCO stock opened at $47.86 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The firm’s 50-day simple moving average is $48.94 and its 200 day simple moving average is $50.06. The stock has a market cap of $193.79 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87.

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

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were paid a dividend of $0.40 per share. 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 annualized dividend and a yield of 3.34%. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s 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 transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction that occurred 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 transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,441 shares of company stock valued at $972,080. Company insiders own 0.02% of the company’s stock.

Cisco Systems 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.