Laurel Wealth Advisors LLC Decreases Stock Position in Cisco Systems, Inc. $CSCO

Laurel Wealth Advisors LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 98.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,446 shares of the network equipment provider’s stock after selling 6,711,566 shares during the quarter. Cisco Systems comprises approximately 0.9% of Laurel Wealth Advisors LLC’s holdings, making the stock its 27th largest holding. Laurel Wealth Advisors LLC’s holdings in Cisco Systems were worth $6,736,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Bare Financial Services Inc boosted its stake in shares of Cisco Systems by 531.0% during the 2nd quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock worth $25,000 after purchasing an additional 308 shares during the period. Marquette Asset Management LLC bought a new stake in Cisco Systems in the third quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in Cisco Systems in the second quarter worth about $28,000. Lowe Wealth Advisors LLC boosted its position in shares of Cisco Systems by 96.2% during the third quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock valued at $28,000 after buying an additional 200 shares during the period. Finally, Cedar Mountain Advisors LLC grew its stake in shares of Cisco Systems by 115.7% during the third quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 251 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems News Roundup

Here are the key news stories impacting Cisco Systems this week:

Cisco Systems Stock Performance

CSCO stock opened at $79.46 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The business has a 50-day moving average price of $77.82 and a 200 day moving average price of $73.75. The company has a market capitalization of $313.86 billion, a P/E ratio of 27.88, a PEG ratio of 3.00 and a beta of 0.87. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $88.18.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The company had revenue of $15.35 billion for the quarter, compared to analysts’ expectations of $15.11 billion. During the same period in the prior year, the business earned $0.94 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 2.1%. Cisco Systems’s dividend payout ratio is 57.54%.

Insider Activity at Cisco Systems

In related news, Director Michael D. Capellas sold 10,850 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $77.13, for a total transaction of $836,860.50. Following the completion of the sale, the director directly owned 146,368 shares in the company, valued at $11,289,363.84. This represents a 6.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeetendra I. Patel sold 11,248 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $854,848.00. Following the sale, the insider directly owned 262,776 shares in the company, valued at approximately $19,970,976. The trade was a 4.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 75,677 shares of company stock valued at $5,811,211 over the last 90 days. Insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Citigroup raised their price target on Cisco Systems from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 target price on shares of Cisco Systems in a research report on Thursday, February 12th. HSBC boosted their target price on shares of Cisco Systems from $74.00 to $77.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Piper Sandler raised their price target on shares of Cisco Systems from $70.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Finally, Evercore raised shares of Cisco Systems from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $100.00 in a research report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $89.55.

Read Our Latest Report on CSCO

Cisco Systems Profile

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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

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