Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by BIP Wealth LLC

BIP Wealth LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,972 shares of the network equipment provider’s stock after selling 1,183 shares during the quarter. BIP Wealth LLC’s holdings in Cisco Systems were worth $424,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CSCO. Swedbank AB acquired a new position in shares of Cisco Systems during the first quarter worth $840,538,000. Dimensional Fund Advisors LP increased its stake in Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after purchasing an additional 4,843,146 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in Cisco Systems by 5,231.5% during the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after purchasing an additional 4,842,542 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Cisco Systems by 26.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after buying an additional 2,906,357 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Cisco Systems by 4,524.9% in the 3rd quarter. International Assets Investment Management LLC now owns 2,087,369 shares of the network equipment provider’s stock valued at $1,110,900,000 after buying an additional 2,042,236 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 321,628 shares of company stock worth $18,449,561 over the last three months. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CSCO. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Piper Sandler upped their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Finally, Wells Fargo & Company increased their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.94.

Cisco Systems Stock Down 0.5 %

Cisco Systems stock opened at $57.01 on Wednesday. The firm has a market capitalization of $227.51 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 4.67 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38. The stock’s fifty day moving average is $54.52 and its two-hundred day moving average is $49.95.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share. Analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.81%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

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.