Leo Wealth LLC Boosts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Leo Wealth LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,548 shares of the network equipment provider’s stock after buying an additional 3,223 shares during the period. Leo Wealth LLC’s holdings in Cisco Systems were worth $3,222,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CSCO. Waypoint Capital Advisors LLC boosted its stake in shares of Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after buying an additional 182 shares during the last quarter. Meridian Financial Partners LLC lifted its holdings in Cisco Systems by 3.8% in the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after acquiring an additional 185 shares during the period. Gleason Group Inc. boosted its position in Cisco Systems by 0.9% in the 3rd quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock worth $1,207,000 after purchasing an additional 193 shares in the last quarter. Cassia Capital Partners LLC grew its stake in shares of Cisco Systems by 1.5% during the 3rd quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider’s stock worth $696,000 after purchasing an additional 195 shares during the period. Finally, Cypress Wealth Services LLC increased its holdings in shares of Cisco Systems by 1.7% during the 3rd quarter. Cypress Wealth Services LLC now owns 12,161 shares of the network equipment provider’s stock valued at $647,000 after purchasing an additional 198 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Rosenblatt Securities increased their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $56.74.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 over the last 90 days. 0.02% of the stock is owned by company insiders.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded up $0.14 during mid-day trading on Tuesday, reaching $56.73. The company’s stock had a trading volume of 8,230,716 shares, compared to its average volume of 19,101,881. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a market capitalization of $228.55 billion, a P/E ratio of 19.05, a P/E/G ratio of 4.22 and a beta of 0.83. The stock has a 50-day moving average of $51.41 and a two-hundred day moving average of $48.66. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

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. 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.