Cisco Systems, Inc. (NASDAQ:CSCO) Stake Lowered by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.7% in the fourth quarter, HoldingsChannel reports. The firm owned 11,222 shares of the network equipment provider’s stock after selling 1,063 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Cisco Systems were worth $664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Dakota Community Bank & Trust NA boosted its holdings in shares of Cisco Systems by 9.6% during the fourth quarter. Dakota Community Bank & Trust NA now owns 5,897 shares of the network equipment provider’s stock valued at $349,000 after acquiring an additional 517 shares during the period. Retirement Wealth Solutions LLC acquired a new position in Cisco Systems during the 4th quarter valued at about $96,000. Brooklyn Investment Group grew its position in Cisco Systems by 13.2% in the 4th quarter. Brooklyn Investment Group now owns 20,363 shares of the network equipment provider’s stock worth $1,205,000 after purchasing an additional 2,378 shares during the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of Cisco Systems by 5.2% in the fourth quarter. Cranbrook Wealth Management LLC now owns 7,780 shares of the network equipment provider’s stock valued at $461,000 after purchasing an additional 385 shares during the period. Finally, Sax Wealth Advisors LLC raised its holdings in shares of Cisco Systems by 7.8% during the fourth quarter. Sax Wealth Advisors LLC now owns 7,910 shares of the network equipment provider’s stock valued at $468,000 after buying an additional 570 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CSCO. Barclays increased their price objective on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. UBS Group lifted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Piper Sandler increased their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Cisco Systems Stock Up 0.7 %

Shares of NASDAQ:CSCO opened at $60.23 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The company has a market cap of $239.88 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The firm has a 50 day simple moving average of $58.87 and a 200 day simple moving average of $53.43.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. As a group, research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. Cisco Systems’s dividend payout ratio is 68.67%.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by company insiders.

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.