Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Liberty Wealth Management LLC

Liberty Wealth Management LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 97.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,788 shares of the network equipment provider’s stock after selling 1,595,476 shares during the period. Liberty Wealth Management LLC’s holdings in Cisco Systems were worth $2,277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Arrow Financial Corp raised its holdings in Cisco Systems by 0.9% in the third quarter. Arrow Financial Corp now owns 53,926 shares of the network equipment provider’s stock valued at $2,870,000 after acquiring an additional 505 shares in the last quarter. Houlihan Financial Resource Group Ltd. increased its position in shares of Cisco Systems by 9.7% in the 3rd quarter. Houlihan Financial Resource Group Ltd. now owns 4,922 shares of the network equipment provider’s stock worth $262,000 after purchasing an additional 435 shares during the last quarter. RKL Wealth Management LLC raised its stake in shares of Cisco Systems by 29.0% in the 3rd quarter. RKL Wealth Management LLC now owns 7,402 shares of the network equipment provider’s stock valued at $394,000 after purchasing an additional 1,663 shares in the last quarter. Carr Financial Group Corp lifted its position in shares of Cisco Systems by 24.8% during the third quarter. Carr Financial Group Corp now owns 12,860 shares of the network equipment provider’s stock worth $684,000 after purchasing an additional 2,558 shares during the last quarter. Finally, Objective Capital Management LLC acquired a new position in Cisco Systems in the third quarter worth about $225,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 over the last ninety days. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CSCO shares. Barclays reduced their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Evercore ISI raised their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Piper Sandler reiterated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $62.00 in a research report on Wednesday, October 16th. Finally, HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus target price of $56.74.

Cisco Systems Trading Down 0.0 %

Shares of CSCO stock opened at $58.06 on Friday. The firm has a market capitalization of $231.70 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 4.79 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $58.30. The stock has a fifty day moving average of $53.30 and a two-hundred day moving average of $49.40.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. As a group, research analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.76%. Cisco Systems’s payout ratio is 62.99%.

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.