Western Wealth Management LLC Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Western Wealth Management LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 49.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 38,931 shares of the network equipment provider’s stock after selling 38,682 shares during the period. Western Wealth Management LLC’s holdings in Cisco Systems were worth $2,305,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tallon Kerry Patrick purchased a new position in shares of Cisco Systems in the 4th quarter valued at approximately $603,000. Beaumont Financial Advisors LLC raised its stake in Cisco Systems by 1.7% during the fourth quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock valued at $627,000 after buying an additional 173 shares during the last quarter. GoalVest Advisory LLC raised its stake in Cisco Systems by 47.5% during the fourth quarter. GoalVest Advisory LLC now owns 44,560 shares of the network equipment provider’s stock valued at $2,638,000 after buying an additional 14,355 shares during the last quarter. Independent Wealth Network Inc. raised its stake in Cisco Systems by 3.2% during the fourth quarter. Independent Wealth Network Inc. now owns 9,144 shares of the network equipment provider’s stock valued at $541,000 after buying an additional 280 shares during the last quarter. Finally, Asset Planning Services Inc. LA ADV raised its stake in Cisco Systems by 3.6% during the fourth quarter. Asset Planning Services Inc. LA ADV now owns 108,452 shares of the network equipment provider’s stock valued at $6,420,000 after buying an additional 3,750 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the sale, the insider now owns 257,162 shares of the company’s stock, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the transaction, the executive vice president now owns 181,186 shares of the company’s stock, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,431 shares of company stock valued at $1,421,356. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $63.36 on Friday. The firm has a market capitalization of $252.06 billion, a PE ratio of 27.67, a P/E/G ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a 50-day simple moving average of $59.00 and a two-hundred day simple moving average of $59.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its Board of Directors has approved a share buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.59%. Cisco Systems’s dividend payout ratio is 66.94%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CSCO shares. New Street Research reiterated a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Piper Sandler lifted their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. UBS Group lifted their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

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.