Meridian Wealth Advisors LLC Sells 683 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Meridian Wealth Advisors LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,250 shares of the network equipment provider’s stock after selling 683 shares during the period. Meridian Wealth Advisors LLC’s holdings in Cisco Systems were worth $1,175,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Valued Wealth Advisors LLC purchased a new position in shares of Cisco Systems in the fourth quarter valued at $32,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter worth $33,000. Morton Brown Family Wealth LLC boosted its stake in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares during the period. Bourgeon Capital Management LLC grew its position in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in Cisco Systems in the 4th quarter worth about $43,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. initiated coverage on Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective for the company. Barclays lifted their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Morgan Stanley started coverage on Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Piper Sandler upped their price objective on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $55.53.

Cisco Systems Trading Down 0.1 %

CSCO opened at $47.94 on Thursday. The stock has a market cap of $194.12 billion, a PE ratio of 14.59, a PEG ratio of 2.72 and a beta of 0.87. The business has a 50 day moving average of $48.75 and a 200-day moving average of $49.69. Cisco Systems, Inc. has a 52 week low of $45.70 and a 52 week high of $58.19. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 EPS. Equities research analysts predict that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were paid a dividend of $0.40 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.34%. Cisco Systems’s dividend payout ratio (DPR) is currently 48.63%.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,441 shares of company stock worth $972,080. Insiders own 0.02% of the company’s stock.

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.