Brookstone Capital Management Sells 431 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Brookstone Capital Management cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,029 shares of the network equipment provider’s stock after selling 431 shares during the period. Brookstone Capital Management’s holdings in Cisco Systems were worth $2,370,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Quest Partners LLC bought a new position in Cisco Systems during the second quarter valued at $62,000. Lumbard & Kellner LLC lifted its position in shares of Cisco Systems by 1.0% during the second quarter. Lumbard & Kellner LLC now owns 105,076 shares of the network equipment provider’s stock worth $4,992,000 after acquiring an additional 1,011 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Cisco Systems by 19.7% during the second quarter. E Fund Management Co. Ltd. now owns 100,518 shares of the network equipment provider’s stock worth $4,776,000 after acquiring an additional 16,554 shares in the last quarter. Meridian Wealth Partners LLC lifted its position in shares of Cisco Systems by 6.4% during the second quarter. Meridian Wealth Partners LLC now owns 4,709 shares of the network equipment provider’s stock worth $224,000 after acquiring an additional 282 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Cisco Systems by 4.7% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 149,542 shares of the network equipment provider’s stock worth $7,105,000 after acquiring an additional 6,761 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Up 1.1 %

CSCO opened at $59.98 on Thursday. The stock has a market cap of $238.89 billion, a PE ratio of 25.74, a P/E/G ratio of 4.37 and a beta of 0.85. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.34. The business’s fifty day simple moving average is $58.79 and its 200 day simple moving average is $53.34.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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 firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same period last year, the firm earned $0.98 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Analysts Set New Price Targets

Several research firms have issued reports on CSCO. 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. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. UBS Group increased their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Piper Sandler increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $61.28.

Insider Activity

In other news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $1,211,596.10. Following the completion of the sale, the executive vice president now directly owns 213,834 shares in the company, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 insiders.

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.