9258 Wealth Management LLC Sells 3,496 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

9258 Wealth Management LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,646 shares of the network equipment provider’s stock after selling 3,496 shares during the quarter. 9258 Wealth Management LLC’s holdings in Cisco Systems were worth $2,559,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Madrona Financial Services LLC boosted its holdings in shares of Cisco Systems by 2.4% in the fourth quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock valued at $453,000 after purchasing an additional 207 shares during the period. Morton Brown Family Wealth LLC raised its stake in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares in the last quarter. River Street Advisors LLC raised its stake in Cisco Systems by 1.7% in the fourth quarter. River Street Advisors LLC now owns 12,921 shares of the network equipment provider’s stock worth $653,000 after buying an additional 219 shares in the last quarter. Patron Partners LLC raised its stake in Cisco Systems by 1.5% in the fourth quarter. Patron Partners LLC now owns 14,890 shares of the network equipment provider’s stock worth $752,000 after buying an additional 222 shares in the last quarter. Finally, Cottage Street Advisors LLC raised its stake in Cisco Systems by 4.3% in the fourth quarter. Cottage Street Advisors LLC now owns 5,391 shares of the network equipment provider’s stock worth $272,000 after buying an additional 224 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,166 shares of company stock valued at $2,727,647. Company insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO opened at $46.50 on Friday. The business’s 50-day moving average is $48.07 and its two-hundred day moving average is $49.08. The company has a market capitalization of $187.34 billion, a P/E ratio of 15.66, a P/E/G ratio of 2.67 and a beta of 0.87. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a fifty-two week low of $45.85 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.18. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. Research analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CSCO. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Monday, May 13th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, May 16th. Oppenheimer boosted their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Citigroup started coverage on Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price target on the stock. Finally, Barclays upped their price target on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Hold” and a consensus target price of $56.47.

View Our Latest Research Report on Cisco Systems

Cisco Systems Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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