Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Lowered by First Citizens Financial Corp

First Citizens Financial Corp trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,586 shares of the network equipment provider’s stock after selling 830 shares during the period. First Citizens Financial Corp’s holdings in Cisco Systems were worth $535,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Wealthspire Advisors LLC raised its position in Cisco Systems by 48.1% during the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock valued at $3,838,000 after buying an additional 23,194 shares during the period. HBK Sorce Advisory LLC raised its position in Cisco Systems by 0.5% during the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock valued at $3,448,000 after buying an additional 301 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Cisco Systems by 1.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after buying an additional 49,700 shares during the period. Waverly Advisors LLC raised its position in Cisco Systems by 140.8% during the third quarter. Waverly Advisors LLC now owns 46,753 shares of the network equipment provider’s stock valued at $2,513,000 after buying an additional 27,337 shares during the period. Finally, GHE LLC raised its position in Cisco Systems by 0.9% during the third quarter. GHE LLC now owns 34,431 shares of the network equipment provider’s stock valued at $1,851,000 after buying an additional 292 shares during the period. 72.21% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Cisco Systems stock opened at $49.55 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The company has a market capitalization of $200.64 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 2.22 and a beta of 0.87. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The business has a 50 day simple moving average of $49.85 and a 200 day simple moving average of $51.20.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results 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. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. Cisco Systems’s revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.17 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.23%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is presently 47.42%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Melius Research reaffirmed a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a research report on Monday, January 8th. Barclays upped their target price on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. 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 target price on the stock. Finally, Piper Sandler upped their target price on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.42.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, 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. Over the last quarter, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is owned by insiders.

Cisco Systems Company 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.