Cyndeo Wealth Partners LLC Sells 3,290 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cyndeo Wealth Partners LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,721 shares of the network equipment provider’s stock after selling 3,290 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Cisco Systems were worth $872,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CSCO. Quarry LP raised its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the period. West Financial Advisors LLC increased its holdings in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Highline Wealth Partners LLC increased its holdings in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems during the 3rd quarter worth $40,000. Finally, Decker Retirement Planning Inc. purchased a new position in Cisco Systems during the 4th quarter worth $49,000. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Wells Fargo & Company upped their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Piper Sandler upped their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Finally, Barclays boosted their price objective on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $62.23 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $247.85 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 4.59 and a beta of 0.84. The firm’s fifty day simple moving average is $59.22 and its 200 day simple moving average is $54.03. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $62.31.

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

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insiders Place Their Bets

In other news, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now owns 65,915 shares in the company, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last quarter. 0.01% of the stock is owned by corporate 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.