Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,552 shares of the network equipment provider’s stock after selling 4,283 shares during the period. Crestwood Advisors Group LLC’s holdings in Cisco Systems were worth $9,343,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Waypoint Capital Advisors LLC increased its stake in 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 valued at $346,000 after acquiring an additional 182 shares during the last quarter. Andina Capital Management LLC increased its position in shares of Cisco Systems by 3.6% during the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after purchasing an additional 182 shares during the last quarter. Meridian Financial Partners LLC lifted its position in Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock worth $267,000 after buying an additional 185 shares during the last quarter. Gleason Group Inc. grew its holdings in shares of Cisco Systems by 0.9% during the 3rd quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock valued at $1,207,000 after purchasing an additional 193 shares during the last quarter. Finally, Cassia Capital Partners LLC lifted its stake in Cisco Systems by 1.5% in the third 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 last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

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

Cisco Systems Trading Up 0.3 %

NASDAQ:CSCO traded up $0.15 during midday trading on Tuesday, hitting $55.98. 1,478,628 shares of the company traded hands, compared to its average volume of 18,938,631. The firm has a market capitalization of $223.40 billion, a P/E ratio of 21.92, a P/E/G ratio of 4.60 and a beta of 0.83. The firm’s fifty day moving average is $52.73 and its 200-day moving average is $49.16. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 EPS. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Wall Street Analyst Weigh In

CSCO has been the subject of several analyst reports. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, August 15th. Jefferies Financial Group lowered their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, HSBC upgraded shares of 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 research report on Friday, August 16th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus price target 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.