Johnson Financial Group Inc. Sells 8,783 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Johnson Financial Group Inc. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,242 shares of the network equipment provider's stock after selling 8,783 shares during the period. Johnson Financial Group Inc.'s holdings in Cisco Systems were worth $7,468,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CSCO. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $26,000. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the fourth quarter worth about $30,000. Campbell Capital Management Inc. purchased a new stake in Cisco Systems in the fourth quarter worth approximately $31,000. Highline Wealth Partners LLC grew its holdings in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. Finally, Synergy Investment Management LLC purchased a new position in shares of Cisco Systems in the fourth quarter worth about $36,000. Institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock valued at $4,275,553 over the last three months. Corporate insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent analyst reports. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Piper Sandler dropped their price target on Cisco Systems from $72.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. BNP Paribas raised shares of Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, Melius upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their price target for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $65.05.

Cisco Systems Stock Down 0.1 %

Shares of CSCO traded down $0.05 on Wednesday, hitting $57.29. 4,904,414 shares of the stock traded hands, compared to its average volume of 20,187,256. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a market capitalization of $227.92 billion, a PE ratio of 25.02, a P/E/G ratio of 4.16 and a beta of 0.86. The business has a 50 day simple moving average of $59.53 and a 200 day simple moving average of $59.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has approved a share repurchase plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were paid a dividend of $0.41 per share. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.86%. Cisco Systems's dividend payout ratio (DPR) is presently 71.62%.

About Cisco Systems

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.