tru Independence LLC Has $4.70 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

tru Independence LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 79,322 shares of the network equipment provider's stock after selling 4,887 shares during the period. tru Independence LLC's holdings in Cisco Systems were worth $4,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quarry LP raised its holdings in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC raised its holdings in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 309 shares in the last quarter. Highline Wealth Partners LLC raised its holdings in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock worth $35,000 after purchasing an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems during the third quarter worth about $40,000. Finally, Decker Retirement Planning Inc. purchased a new position in Cisco Systems during the fourth quarter worth about $49,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Shares of CSCO stock traded down $3.14 during midday trading on Monday, reaching $59.09. 33,713,428 shares of the company were exchanged, compared to its average volume of 18,927,869. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.31. The company has a market cap of $235.35 billion, a P/E ratio of 25.36, a PEG ratio of 4.59 and a beta of 0.84. The company's 50 day moving average price is $59.22 and its two-hundred day moving average price is $54.14. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business's revenue for the quarter was down 5.6% on a year-over-year basis. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 68.67%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value 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 $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kristina M. Johnson sold 7,500 shares of the business's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the sale, the director now directly owns 65,915 shares of the company's stock, valued at $3,946,331.05. This represents a 10.22 % 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. Corporate insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CSCO. Bank of America increased their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Barclays increased their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the company an "equal weight" rating in a report on Thursday, November 14th. UBS Group increased their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Wells Fargo & Company increased their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a "neutral" rating to an "overweight" rating and increased their price target for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $61.50.

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.