Nichols & Pratt Advisers LLP MA Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

11 Feb 2024, 14:32 by Renee Jackson · The Cerbat Gem

Nichols & Pratt Advisers LLP MA trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 5.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 347,281 shares of the network equipment provider’s stock after selling 19,254 shares during the quarter. Cisco Systems accounts for approximately 1.4% of Nichols & Pratt Advisers LLP MA’s holdings, making the stock its 24th largest position. Nichols & Pratt Advisers LLP MA’s holdings in Cisco Systems were worth $18,670,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kathleen S. Wright Associates Inc. purchased a new position in shares of Cisco Systems during the third quarter valued at about $27,000. Fortis Capital Advisors LLC purchased a new position in Cisco Systems in the fourth quarter worth about $34,000. Spotlight Asset Group Inc. bought a new stake in Cisco Systems in the second quarter worth about $41,000. Hibernia Wealth Partners LLC bought a new stake in Cisco Systems in the third quarter worth about $42,000. Finally, VitalStone Financial LLC bought a new stake in Cisco Systems in the second quarter worth about $45,000. 72.21% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 24,579 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $47.99, for a total transaction of $1,179,546.21. Following the sale, the executive vice president now directly owns 210,395 shares in the company, valued at approximately $10,096,856.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Deborah L. Stahlkopf sold 24,579 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $47.99, for a total value of $1,179,546.21. Following the completion of the transaction, the executive vice president now directly owns 210,395 shares of the company’s stock, valued at $10,096,856.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Scott Herren sold 106,321 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $50.02, for a total transaction of $5,318,176.42. Following the completion of the transaction, the chief financial officer now directly owns 345,994 shares of the company’s stock, valued at $17,306,619.88. The disclosure for this sale can be found here. Insiders have sold 150,475 shares of company stock worth $7,464,194 in the last ninety days. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock traded up $0.18 on Friday, reaching $50.13. 24,076,857 shares of the company were exchanged, compared to its average volume of 17,756,492. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The stock’s fifty day moving average price is $50.19 and its 200 day moving average price is $52.21. The firm has a market capitalization of $203.70 billion, a PE ratio of 15.15, a PEG ratio of 2.39 and a beta of 0.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.47 and a quick ratio of 1.34.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.91 by $0.20. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. The company had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.38 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Thursday, January 4th were given a $0.39 dividend. The ex-dividend date was Wednesday, January 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.11%. Cisco Systems’s dividend payout ratio is 47.13%.

Analyst Ratings Changes

Several analysts have recently weighed in on CSCO shares. Melius Research reaffirmed a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research note on Monday, January 8th. Rosenblatt Securities cut their price target on shares of Cisco Systems from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th. UBS Group cut their price target on shares of Cisco Systems from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th. Raymond James downgraded Cisco Systems from a “market perform” rating to an “underperform” rating in a research report on Monday, October 30th. Finally, Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $58.21.

Check Out Our Latest Report on Cisco Systems

Cisco Systems Profile

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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.