Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Monterey Private Wealth Inc.

Monterey Private Wealth Inc. decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 12.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,148 shares of the network equipment provider’s stock after selling 1,423 shares during the quarter. Monterey Private Wealth Inc.’s holdings in Cisco Systems were worth $433,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cordant Inc. acquired a new position in shares of Cisco Systems in the 1st quarter valued at approximately $28,000. Advanced Research Investment Solutions LLC raised its position in shares of Cisco Systems by 564.6% during the 1st quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider’s stock valued at $30,000 after acquiring an additional 463 shares in the last quarter. Conrad Siegel Investment Advisors Inc. acquired a new stake in shares of Cisco Systems during the 1st quarter valued at approximately $33,000. Evolution Advisers Inc. raised its position in shares of Cisco Systems by 48.2% during the 1st quarter. Evolution Advisers Inc. now owns 781 shares of the network equipment provider’s stock valued at $43,000 after acquiring an additional 254 shares in the last quarter. Finally, PYA Waltman Capital LLC grew its stake in Cisco Systems by 445.4% during the 1st quarter. PYA Waltman Capital LLC now owns 769 shares of the network equipment provider’s stock worth $43,000 after buying an additional 628 shares during the last quarter. Hedge funds and other institutional investors own 71.71% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $41.59 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.43. The firm has a market cap of $170.89 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 2.11 and a beta of 0.96. The business’s 50-day simple moving average is $45.13 and its 200-day simple moving average is $47.62. Cisco Systems, Inc. has a 52 week low of $40.82 and a 52 week high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $13.10 billion for the quarter, compared to analyst estimates of $12.78 billion. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 EPS. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.1 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Tuesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is currently 53.90%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $51.00 price target (down previously from $62.00) on shares of Cisco Systems in a research note on Thursday, July 14th. Piper Sandler increased their price target on Cisco Systems from $43.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, August 18th. KGI Securities raised Cisco Systems from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 31st. Barclays cut Cisco Systems from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $56.00 to $46.00 in a research note on Wednesday. Finally, Credit Suisse Group increased their price target on Cisco Systems from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $54.10.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Prat Bhatt sold 19,168 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total value of $848,759.04. Following the completion of the sale, the senior vice president now owns 38,158 shares in the company, valued at approximately $1,689,636.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cisco Systems news, EVP Jeffery S. Sharritts sold 637 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $44.69, for a total value of $28,467.53. Following the completion of the sale, the executive vice president now owns 166,370 shares in the company, valued at approximately $7,435,075.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prat Bhatt sold 19,168 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total value of $848,759.04. Following the transaction, the senior vice president now owns 38,158 shares of the company’s stock, valued at approximately $1,689,636.24. The disclosure for this sale can be found here. Insiders have sold 56,317 shares of company stock valued at $2,612,042 in the last 90 days. 0.02% of the stock is currently owned by insiders.

About Cisco Systems

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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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

Further Reading

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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