Valley Wealth Managers Inc. Has $23.16 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Valley Wealth Managers Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 3.8% during the third quarter, Holdings Channel.com reports. The fund owned 430,737 shares of the network equipment provider’s stock after selling 16,841 shares during the period. Cisco Systems comprises approximately 1.9% of Valley Wealth Managers Inc.’s holdings, making the stock its 6th biggest position. Valley Wealth Managers Inc.’s holdings in Cisco Systems were worth $23,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cisco Systems in the third quarter valued at approximately $27,000. Fortis Capital Advisors LLC acquired a new stake in Cisco Systems in the 4th quarter valued at $34,000. Hibernia Wealth Partners LLC acquired a new position in Cisco Systems during the third quarter worth $42,000. Spotlight Asset Group Inc. purchased a new position in Cisco Systems during the second quarter valued at $41,000. Finally, VitalStone Financial LLC purchased a new stake in shares of Cisco Systems during the second quarter worth about $45,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 106,321 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $50.02, for a total transaction of $5,318,176.42. Following the sale, the chief financial officer now owns 345,994 shares of the company’s stock, valued at $17,306,619.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Mark Garrett sold 899 shares of Cisco Systems stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $47.88, for a total value of $43,044.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 106,321 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $50.02, for a total transaction of $5,318,176.42. Following the sale, the chief financial officer now owns 345,994 shares in the company, valued at $17,306,619.88. The disclosure for this sale can be found here. Insiders sold a total of 150,475 shares of company stock valued at $7,464,194 in the last three months. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Trading Down 0.6 %

Shares of CSCO traded down $0.32 during trading on Monday, reaching $49.81. 2,666,456 shares of the company traded hands, compared to its average volume of 18,078,125. The stock has a 50-day simple moving average of $50.19 and a 200-day simple moving average of $52.20. The stock has a market cap of $202.40 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 2.39 and a beta of 0.90. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.15.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.20. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. The firm had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. During the same quarter last year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts anticipate that Cisco Systems, Inc. will post 3.38 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 24th. Investors of record on Thursday, January 4th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Wednesday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 47.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Piper Sandler lowered their price objective on Cisco Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th. Rosenblatt Securities dropped their price target on Cisco Systems from $59.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 16th. Melius Research restated a “hold” rating and issued a $55.00 price objective on shares of Cisco Systems in a report on Monday, January 8th. Raymond James lowered shares of Cisco Systems from a “market perform” rating to an “underperform” rating in a report on Monday, October 30th. Finally, Melius downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Hold” and an average price target of $58.21.

View Our Latest Stock Report on CSCO

About Cisco Systems

(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.

Featured Articles

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCOFree Report).

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

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.