Cisco Systems, Inc. $CSCO Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 38.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,724 shares of the network equipment provider’s stock after selling 50,624 shares during the period. GC Wealth Management RIA LLC’s holdings in Cisco Systems were worth $6,372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rachor Investment Advisory Services LLC acquired a new stake in shares of Cisco Systems during the 4th quarter valued at approximately $106,000. First Fiduciary Investment Counsel Inc. raised its position in shares of Cisco Systems by 2.3% during the 4th quarter. First Fiduciary Investment Counsel Inc. now owns 183,465 shares of the network equipment provider’s stock worth $14,132,000 after purchasing an additional 4,163 shares during the last quarter. Fagan Associates Inc. raised its position in shares of Cisco Systems by 4.6% during the 4th quarter. Fagan Associates Inc. now owns 80,087 shares of the network equipment provider’s stock worth $6,169,000 after purchasing an additional 3,540 shares during the last quarter. Simplicity Wealth LLC raised its position in shares of Cisco Systems by 6.6% during the 4th quarter. Simplicity Wealth LLC now owns 64,559 shares of the network equipment provider’s stock worth $4,973,000 after purchasing an additional 4,020 shares during the last quarter. Finally, Kondo Wealth Advisors Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $217,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Trading Down 1.5%

Shares of CSCO opened at $86.92 on Wednesday. Cisco Systems, Inc. has a fifty-two week low of $56.46 and a fifty-two week high of $90.45. The stock has a fifty day moving average of $80.98 and a two-hundred day moving average of $77.75. The company has a market capitalization of $343.30 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 3.33 and a beta of 0.83. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The company had revenue of $15.35 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same period in the previous year, the company earned $0.94 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts forecast that Cisco Systems, Inc. will post 3.4 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio is presently 58.95%.

Insider Activity at Cisco Systems

In related news, EVP Oliver Tuszik sold 3,132 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total transaction of $249,745.68. Following the completion of the sale, the executive vice president directly owned 188,613 shares of the company’s stock, valued at approximately $15,040,000.62. This represents a 1.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 19,545 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $1,485,420.00. Following the sale, the chief executive officer directly owned 671,095 shares of the company’s stock, valued at approximately $51,003,220. This trade represents a 2.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 46,431 shares of company stock worth $3,574,820. 0.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CSCO shares. HSBC lifted their price objective on Cisco Systems from $74.00 to $77.00 and gave the stock a “hold” rating in a research report on Friday, February 13th. CICC Research lifted their price objective on Cisco Systems from $84.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. BNP Paribas Exane lifted their price objective on Cisco Systems from $86.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. UBS Group boosted their price target on Cisco Systems from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, Zacks Research downgraded Cisco Systems from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.81.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.