Souders Financial Advisors Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Souders Financial Advisors cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 45.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,598 shares of the network equipment provider’s stock after selling 5,524 shares during the period. Souders Financial Advisors’ holdings in Cisco Systems were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Community Bank & Trust Waco Texas raised its stake in Cisco Systems by 0.7% during the third quarter. Community Bank & Trust Waco Texas now owns 107,736 shares of the network equipment provider’s stock worth $5,734,000 after purchasing an additional 767 shares during the period. Empower Advisory Group LLC grew its position in shares of Cisco Systems by 3.0% during the third quarter. Empower Advisory Group LLC now owns 60,191 shares of the network equipment provider’s stock worth $3,203,000 after buying an additional 1,760 shares in the last quarter. RPG Investment Advisory LLC raised its stake in Cisco Systems by 6.4% in the third quarter. RPG Investment Advisory LLC now owns 152,220 shares of the network equipment provider’s stock valued at $8,101,000 after buying an additional 9,112 shares in the last quarter. Barnett & Company Inc. purchased a new stake in shares of Cisco Systems during the 3rd quarter worth approximately $221,000. Finally, Aptus Capital Advisors LLC lifted its position in Cisco Systems by 19.9% in the third quarter. Aptus Capital Advisors LLC now owns 60,629 shares of the network equipment provider’s stock valued at $3,227,000 after acquiring an additional 10,066 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the transaction, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last quarter. 0.01% of the stock is currently owned by insiders.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $58.71 on Wednesday. The firm has a market cap of $234.30 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 4.86 and a beta of 0.83. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average is $53.64 and its two-hundred day moving average is $49.57.

Cisco Systems (NASDAQ:CSCO) last announced its 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. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the business earned $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. Research analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on CSCO shares. Jefferies Financial Group reduced their price target on shares of 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 reissued a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Evercore ISI lifted their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Twelve equities 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.32.

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.