Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Marietta Wealth Management LLC

Marietta Wealth Management LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 44.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,741 shares of the network equipment provider’s stock after selling 3,760 shares during the quarter. Marietta Wealth Management LLC’s holdings in Cisco Systems were worth $252,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Weaver Capital Management LLC increased its holdings in shares of Cisco Systems by 13.1% in the third quarter. Weaver Capital Management LLC now owns 43,115 shares of the network equipment provider’s stock valued at $2,295,000 after purchasing an additional 4,990 shares during the period. Community Trust & Investment Co. purchased a new stake in Cisco Systems in the third quarter valued at approximately $334,000. Tempus Wealth Planning LLC increased its holdings in Cisco Systems by 8.2% in the 3rd quarter. Tempus Wealth Planning LLC now owns 20,918 shares of the network equipment provider’s stock worth $1,113,000 after buying an additional 1,578 shares during the period. Stanley Laman Group Ltd. raised its position in Cisco Systems by 3.4% during the 3rd quarter. Stanley Laman Group Ltd. now owns 9,695 shares of the network equipment provider’s stock worth $516,000 after buying an additional 323 shares during the last quarter. Finally, Metropolis Capital Ltd lifted its stake in Cisco Systems by 13.4% during the 3rd quarter. Metropolis Capital Ltd now owns 4,866,136 shares of the network equipment provider’s stock valued at $258,976,000 after acquiring an additional 575,955 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is currently owned by insiders.

Cisco Systems Stock Up 0.0 %

Shares of NASDAQ CSCO opened at $56.60 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $51.63 and a 200 day moving average of $48.71. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06. The stock has a market cap of $228.03 billion, a PE ratio of 19.06, a P/E/G ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CSCO. Evercore ISI increased their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Tigress Financial lifted their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.74.

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.