Schrum Private Wealth Management LLC Acquires 4,349 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Schrum Private Wealth Management LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 75.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 10,096 shares of the network equipment provider’s stock after purchasing an additional 4,349 shares during the period. Schrum Private Wealth Management LLC’s holdings in Cisco Systems were worth $537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Summit Securities Group LLC purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $25,000. Quarry LP boosted its position in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the period. West Financial Advisors LLC increased 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 worth $31,000 after purchasing an additional 309 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems during the 2nd quarter valued at $36,000. Finally, Iron Horse Wealth Management LLC lifted its stake in shares of Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after buying an additional 766 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CSCO shares. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Tigress Financial increased their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Evercore ISI lifted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, Jefferies Financial Group dropped their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $57.32.

Cisco Systems Trading Down 0.3 %

Shares of Cisco Systems stock traded down $0.20 on Wednesday, reaching $58.51. The company had a trading volume of 5,185,365 shares, compared to its average volume of 18,895,896. The firm has a market cap of $233.50 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 4.86 and a beta of 0.83. 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 firm’s 50-day moving average price is $53.64 and its two-hundred day moving average price is $49.57. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS 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 company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the firm earned $1.01 earnings per share. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, research analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents 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 worth $3,509,049. 0.01% of the stock is currently owned by insiders.

Cisco Systems 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.