Pacific Wealth Strategies Group Inc. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 23.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,900 shares of the network equipment provider’s stock after selling 9,580 shares during the quarter. Pacific Wealth Strategies Group Inc.’s holdings in Cisco Systems were worth $1,437,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Bainco International Investors bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $30,000. FNY Investment Advisers LLC grew its stake in shares of Cisco Systems by 79,900.0% during the 3rd quarter. FNY Investment Advisers LLC now owns 800 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 799 shares during the period. Larson Financial Group LLC grew its stake in shares of Cisco Systems by 57.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,480 shares of the network equipment provider’s stock valued at $58,000 after acquiring an additional 541 shares during the period. Ellevest Inc. grew its stake in shares of Cisco Systems by 33.2% during the 3rd quarter. Ellevest Inc. now owns 1,478 shares of the network equipment provider’s stock valued at $58,000 after acquiring an additional 368 shares during the period. Finally, Cerebellum GP LLC bought a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $63,000. Institutional investors own 70.62% of the company’s stock.
A number of research analysts recently commented on the company. Wolfe Research cut Cisco Systems from an “outperform” rating to a “peer perform” rating and set a $42.00 price target on the stock. in a report on Friday, September 18th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Friday, November 13th. Bank of America lowered their price target on Cisco Systems from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, September 16th. Piper Sandler boosted their price target on Cisco Systems from $44.00 to $45.00 in a report on Friday, November 13th. Finally, Smith Barney Citigroup boosted their price target on Cisco Systems from $43.00 to $45.00 in a report on Friday, November 13th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. Cisco Systems has an average rating of “Hold” and a consensus price target of $47.54.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Thursday, November 12th. The network equipment provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.06. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. The company had revenue of $11.93 billion for the quarter, compared to analyst estimates of $11.85 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. Cisco Systems’s quarterly revenue was down 9.3% compared to the same quarter last year. Equities analysts forecast that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 20th. Investors of record on Tuesday, January 5th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, January 4th. This represents a $1.44 annualized dividend and a yield of 3.17%. Cisco Systems’s payout ratio is presently 49.32%.
In other Cisco Systems news, CAO Prat Bhatt sold 21,146 shares of the company’s stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $42.38, for a total value of $896,167.48. Following the transaction, the chief accounting officer now owns 144,839 shares of the company’s stock, valued at approximately $6,138,276.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 242,774 shares of the company’s stock in a transaction on Thursday, November 19th. The shares were sold at an average price of $41.04, for a total value of $9,963,444.96. The disclosure for this sale can be found here. Insiders have sold a total of 371,384 shares of company stock worth $15,429,225 in the last 90 days. 0.02% of the stock is currently owned by insiders.
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
See Also: Net Income
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.