Independent Solutions Wealth Management LLC Reduces Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Independent Solutions Wealth Management LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 78,634 shares of the network equipment provider’s stock after selling 1,186 shares during the period. Cisco Systems accounts for 0.9% of Independent Solutions Wealth Management LLC’s holdings, making the stock its 28th biggest holding. Independent Solutions Wealth Management LLC’s holdings in Cisco Systems were worth $4,185,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CSCO. Legacy Wealth Management LLC MS acquired a new position in Cisco Systems in the third quarter valued at approximately $206,000. Birmingham Capital Management Co. Inc. AL increased its holdings in Cisco Systems by 9.7% in the third quarter. Birmingham Capital Management Co. Inc. AL now owns 22,320 shares of the network equipment provider’s stock valued at $1,188,000 after buying an additional 1,970 shares in the last quarter. Logan Capital Management Inc. boosted its stake in shares of Cisco Systems by 10.1% during the 3rd quarter. Logan Capital Management Inc. now owns 295,303 shares of the network equipment provider’s stock worth $15,716,000 after acquiring an additional 27,175 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Cisco Systems by 3.7% during the 3rd quarter. Retirement Systems of Alabama now owns 3,038,015 shares of the network equipment provider’s stock valued at $161,683,000 after acquiring an additional 109,772 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new position in Cisco Systems during the third quarter worth approximately $502,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CSCO shares. UBS Group upped their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Bank of America raised their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Piper Sandler increased their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Barclays boosted their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Insider Activity

In related news, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the sale, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This represents a 19.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 353,522 shares of company stock worth $20,349,721. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.34 during mid-day trading on Thursday, reaching $57.87. The stock had a trading volume of 8,793,568 shares, compared to its average volume of 19,108,102. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The business has a 50 day simple moving average of $57.44 and a 200 day simple moving average of $51.61. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.23. The firm has a market capitalization of $230.48 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 4.37 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter last year, the company earned $0.98 earnings per share. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders 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 yield of 2.76%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

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.