Diversify Wealth Management LLC Purchases 2,732 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Diversify Wealth Management LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,823 shares of the network equipment provider’s stock after acquiring an additional 2,732 shares during the quarter. Diversify Wealth Management LLC’s holdings in Cisco Systems were worth $3,142,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in Cisco Systems during the 2nd quarter valued at $25,000. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares in the last quarter. Quarry LP raised its stake in Cisco Systems by 222.4% during the 2nd 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 period. Retirement Group LLC grew its stake in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Cisco Systems during the second quarter valued at approximately $36,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Down 0.1 %

CSCO stock traded down $0.05 during midday trading on Wednesday, reaching $55.63. 2,882,585 shares of the company were exchanged, compared to its average volume of 18,983,133. The stock’s 50-day simple moving average is $52.34 and its 200 day simple moving average is $48.95. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. 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 company has a market cap of $222.00 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83.

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

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s payout ratio is 62.99%.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares in the company, valued at $6,821,929.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 over the last 90 days. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of recent research reports. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Monday. Barclays dropped their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Piper Sandler reissued a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Jefferies Financial Group cut their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $56.74.

About Cisco Systems

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.