Maxwell Wealth Strategies Inc. Has $783,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Maxwell Wealth Strategies Inc. trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 67.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,937 shares of the network equipment provider’s stock after selling 28,342 shares during the period. Maxwell Wealth Strategies Inc.’s holdings in Cisco Systems were worth $783,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in Cisco Systems in the 2nd quarter valued at $25,000. Quarry LP grew its holdings in shares of Cisco Systems by 222.4% in the 2nd 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 last quarter. West Financial Advisors LLC increased its position in shares of Cisco Systems by 116.6% during the 3rd 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 position in Cisco Systems during the 2nd quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC boosted its position in Cisco Systems by 617.7% in the second 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. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 22,309 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the completion of the sale, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at approximately $14,659,200. This represents a 7.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,924 shares of company stock worth $1,798,131. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 0.8 %

NASDAQ:CSCO opened at $57.46 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38. The stock’s fifty day simple moving average is $54.18 and its 200-day simple moving average is $49.76. The firm has a market capitalization of $229.31 billion, a P/E ratio of 24.66, a P/E/G ratio of 4.90 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CSCO shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Morgan Stanley lifted their price objective on Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday. Tigress Financial increased their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup lifted their price target on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday. Finally, New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $59.42.

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.