SMART Wealth LLC Sells 2,107 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

SMART Wealth LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 30.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,889 shares of the network equipment provider’s stock after selling 2,107 shares during the quarter. SMART Wealth LLC’s holdings in Cisco Systems were worth $260,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CSCO. Summit Securities Group LLC acquired a new position in Cisco Systems in the 2nd quarter valued at approximately $25,000. West Financial Advisors LLC grew its holdings in shares of Cisco Systems by 116.6% during the 3rd 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. Quarry LP increased its position in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the period. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems in the third quarter worth $40,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Cisco Systems during the second quarter worth $36,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the sale, the executive vice president now owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last three months. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CSCO. Citigroup raised their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Bank of America lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. UBS Group increased their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Tigress Financial boosted their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Piper Sandler lifted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Trading Down 0.4 %

Shares of CSCO opened at $58.62 on Monday. The stock’s fifty day simple moving average is $57.13 and its 200-day simple moving average is $51.40. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $233.47 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 4.37 and a beta of 0.85. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.23.

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

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Cisco Systems Company 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.