Leo Wealth LLC Has $2.98 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Leo Wealth LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 48,333 shares of the network equipment provider’s stock after selling 5,425 shares during the period. Leo Wealth LLC’s holdings in Cisco Systems were worth $2,983,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Navigoe LLC acquired a new stake in shares of Cisco Systems during the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new position in Cisco Systems in the fourth quarter valued at about $26,000. JDM Financial Group LLC boosted its position in Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after buying an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the fourth quarter valued at about $30,000. Finally, Fairway Wealth LLC boosted its position in Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 400 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president owned 174,669 shares of the company’s stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares of the company’s stock, valued at $20,281,257.36. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 1.2%

Shares of NASDAQ CSCO opened at $67.95 on Monday. The company’s 50 day simple moving average is $65.02 and its 200 day simple moving average is $61.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78. The firm has a market capitalization of $269.08 billion, a P/E ratio of 27.73, a P/E/G ratio of 4.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the business posted $0.88 earnings per share. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. On average, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced 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. This represents a $1.64 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is presently 66.94%.

Analyst Ratings Changes

A number of equities analysts have commented on CSCO shares. KeyCorp started coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They issued an “overweight” rating and a $77.00 price target on the stock. CICC Research started coverage on shares of Cisco Systems in a research report on Monday. They issued an “outperform” rating and a $78.00 price target on the stock. Evercore ISI boosted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.95.

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.