Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Belpointe Asset Management LLC

Belpointe Asset Management LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 30.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,774 shares of the network equipment provider’s stock after acquiring an additional 8,586 shares during the period. Belpointe Asset Management LLC’s holdings in Cisco Systems were worth $1,747,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CSCO. Summit Securities Group LLC acquired a new stake in Cisco Systems during the 2nd quarter valued at $25,000. Retirement Group LLC grew its holdings in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems during the 2nd quarter valued at $36,000. Tidemark LLC acquired a new stake in Cisco Systems during the 4th quarter valued at $41,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Cisco Systems during the 1st quarter valued at $41,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CSCO shares. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a report on Monday, May 13th. Rosenblatt Securities raised their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $55.89.

Cisco Systems Trading Down 0.7 %

Shares of NASDAQ:CSCO opened at $49.70 on Thursday. The company has a market cap of $200.23 billion, a PE ratio of 16.73, a P/E/G ratio of 3.98 and a beta of 0.85. The company’s 50-day moving average price is $47.79 and its 200 day moving average price is $47.93. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.82. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $1.01 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.22%. Cisco Systems’s payout ratio is 53.87%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,944 shares of company stock valued at $3,566,120. Company insiders own 0.02% of the company’s stock.

About Cisco Systems

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.