Brave Asset Management Inc. Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Brave Asset Management Inc. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,842 shares of the network equipment provider’s stock after selling 667 shares during the quarter. Brave Asset Management Inc.’s holdings in Cisco Systems were worth $1,101,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tallon Kerry Patrick purchased a new stake in shares of Cisco Systems during the fourth quarter worth $603,000. Brighton Jones LLC grew its holdings in shares of Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after buying an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after buying an additional 2,474 shares in the last quarter. GDS Wealth Management purchased a new stake in shares of Cisco Systems during the fourth quarter worth $205,000. Finally, Optas LLC grew its holdings in shares of Cisco Systems by 4.6% during the fourth quarter. Optas LLC now owns 12,697 shares of the network equipment provider’s stock worth $752,000 after buying an additional 562 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,616 shares of company stock worth $2,640,095 over the last three months. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 0.8%

CSCO stock opened at $64.36 on Wednesday. The company’s 50 day moving average price is $59.40 and its 200 day moving average price is $60.20. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The firm has a market capitalization of $254.87 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 4.16 and a beta of 0.89.

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

Cisco Systems announced that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.55%. Cisco Systems’s dividend payout ratio is currently 66.94%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Piper Sandler boosted their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. UBS Group boosted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

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.