Laurel Wealth Advisors LLC Reduces Holdings in Cisco Systems, Inc. $CSCO

Laurel Wealth Advisors LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 98.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,446 shares of the network equipment provider’s stock after selling 6,711,566 shares during the period. Cisco Systems comprises 0.9% of Laurel Wealth Advisors LLC’s portfolio, making the stock its 27th largest holding. Laurel Wealth Advisors LLC’s holdings in Cisco Systems were worth $6,736,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CSCO. Bare Financial Services Inc raised its holdings in Cisco Systems by 531.0% in the 2nd quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock worth $25,000 after purchasing an additional 308 shares during the period. Marquette Asset Management LLC purchased a new stake in Cisco Systems in the third quarter worth about $25,000. Legacy Investment Solutions LLC bought a new position in shares of Cisco Systems in the second quarter worth about $28,000. Lowe Wealth Advisors LLC raised its stake in shares of Cisco Systems by 96.2% in the third quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock worth $28,000 after buying an additional 200 shares during the period. Finally, Cedar Mountain Advisors LLC lifted its position in shares of Cisco Systems by 115.7% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, insider Jeetendra I. Patel sold 11,248 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $854,848.00. Following the sale, the insider owned 262,776 shares in the company, valued at approximately $19,970,976. The trade was a 4.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kristina M. Johnson sold 13,481 shares of the stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $77.13, for a total transaction of $1,039,789.53. Following the transaction, the director owned 61,630 shares of the company’s stock, valued at $4,753,521.90. This trade represents a 17.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 75,677 shares of company stock valued at $5,811,211 in the last 90 days. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 1.7%

CSCO opened at $79.46 on Monday. The company has a market capitalization of $313.86 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.87. The firm has a 50-day simple moving average of $77.82 and a two-hundred day simple moving average of $73.75. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. Cisco Systems, Inc. has a 52 week low of $52.11 and a 52 week high of $88.18.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The company had revenue of $15.35 billion for the quarter, compared to the consensus estimate of $15.11 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio is currently 57.54%.

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Wall Street Analyst Weigh In

CSCO has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group increased their price objective on shares of Cisco Systems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. KeyCorp lifted their target price on shares of Cisco Systems from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Argus upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, February 13th. Finally, Evercore raised Cisco Systems from an “in-line” rating to an “outperform” rating and raised their price target for the company from $80.00 to $100.00 in a report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $89.55.

Get Our Latest Research Report on CSCO

Cisco Systems Company Profile

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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

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