Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Summit Wealth Group LLC

Summit Wealth Group LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,875 shares of the network equipment provider’s stock after selling 440 shares during the quarter. Summit Wealth Group LLC’s holdings in Cisco Systems were worth $229,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth about $26,000. Highline Wealth Partners LLC boosted its position in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems during the 3rd quarter worth about $40,000. Decker Retirement Planning Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth about $49,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Cisco Systems during the 3rd quarter worth about $51,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This trade represents a 4.16 % 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 586 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,848 shares of company stock valued at $4,767,206 in the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of several analyst reports. Morgan Stanley upped their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Piper Sandler upped their target price on Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Finally, Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $66.00 to $80.00 in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price of $66.53.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $64.27 on Wednesday. The company has a market cap of $255.68 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. The stock has a 50 day simple moving average of $60.87 and a 200-day simple moving average of $56.56. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a $0.41 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

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.