First Hawaiian Bank Purchases 1,807 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

First Hawaiian Bank lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,328 shares of the network equipment provider’s stock after purchasing an additional 1,807 shares during the period. First Hawaiian Bank’s holdings in Cisco Systems were worth $2,447,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Lantz Financial LLC increased its position in Cisco Systems by 1.2% in the second quarter. Lantz Financial LLC now owns 60,993 shares of the network equipment provider’s stock worth $2,898,000 after buying an additional 736 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Cisco Systems by 3,269.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 150,172 shares of the network equipment provider’s stock valued at $68,000 after acquiring an additional 145,715 shares during the period. Quest Partners LLC purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $62,000. Carson Advisory Inc. raised its stake in Cisco Systems by 8.4% during the 2nd quarter. Carson Advisory Inc. now owns 6,428 shares of the network equipment provider’s stock worth $305,000 after acquiring an additional 499 shares during the period. Finally, Angeles Wealth Management LLC lifted its holdings in Cisco Systems by 9.6% during the second quarter. Angeles Wealth Management LLC now owns 14,837 shares of the network equipment provider’s stock valued at $705,000 after purchasing an additional 1,305 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CSCO. Tigress Financial raised their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Piper Sandler increased their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $73.00 in a research report on Monday. Citigroup increased their target price on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley boosted their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.28.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 over the last 90 days. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $59.20 on Thursday. The stock has a market cap of $235.78 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a 50 day moving average price of $58.51 and a 200-day moving average price of $52.97. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share. Equities analysts expect 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 will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

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.