Firethorn Wealth Partners LLC Sells 457 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Firethorn Wealth Partners LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,173 shares of the network equipment provider’s stock after selling 457 shares during the period. Firethorn Wealth Partners LLC’s holdings in Cisco Systems were worth $329,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. Summit Securities Group LLC acquired a new position in Cisco Systems during the second quarter valued at approximately $25,000. Quarry LP boosted its holdings in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC grew its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares in the last quarter. Retirement Group LLC increased its holdings in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the second quarter worth $36,000. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $52.00 to $62.00 in a report on Wednesday. Piper Sandler restated 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 boosted their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Tigress Financial raised their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average target price of $56.74.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,529 shares of company stock valued at $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $56.38 on Thursday. The stock has a market capitalization of $227.14 billion, a PE ratio of 18.98, a P/E/G ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $56.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The business has a fifty day moving average price of $50.73 and a two-hundred day moving average price of $48.50.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.84%. Cisco Systems’s payout ratio is 53.87%.

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.