SteelPeak Wealth LLC Sells 24,708 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

SteelPeak Wealth LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 615,493 shares of the network equipment provider’s stock after selling 24,708 shares during the quarter. Cisco Systems accounts for 1.5% of SteelPeak Wealth LLC’s investment portfolio, making the stock its 16th biggest position. SteelPeak Wealth LLC’s holdings in Cisco Systems were worth $36,437,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CSCO. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the last quarter. Highline Wealth Partners LLC increased its stake in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the period. Quarry LP lifted its position in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Cisco Systems during the third quarter valued at approximately $40,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth approximately $49,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Trading Up 0.6 %

Shares of NASDAQ CSCO opened at $59.43 on Wednesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $62.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm has a 50-day moving average of $59.25 and a 200 day moving average of $54.23. The stock has a market cap of $236.70 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 4.59 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the business earned $0.98 earnings per share. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. The ex-dividend date was Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. Cisco Systems’s payout ratio is presently 68.67%.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the sale, the senior vice president now owns 50,767 shares in the company, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 in the last quarter. 0.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a research report on Tuesday. Morgan Stanley raised their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price target on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Citigroup increased their price objective on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Melius raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.72.

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.