Cisco Systems, Inc. (NASDAQ:CSCO) Position Trimmed by Executive Wealth Management LLC

Executive Wealth Management LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 95.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,473 shares of the network equipment provider’s stock after selling 145,008 shares during the quarter. Executive Wealth Management LLC’s holdings in Cisco Systems were worth $345,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after acquiring an additional 3,241,682 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cisco Systems by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after purchasing an additional 1,677,383 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after purchasing an additional 1,853,598 shares during the period. FMR LLC grew its stake in Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Cisco Systems by 3.3% in the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after buying an additional 1,530,468 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Bank of America boosted their price target 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. UBS Group boosted their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, August 15th. Piper Sandler lifted their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,860 shares of company stock valued at $20,231,558 over the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $58.72 on Wednesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.23. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $56.65 and a two-hundred day moving average of $51.05. The company has a market capitalization of $233.87 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 4.39 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

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.