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

SeaCrest Wealth Management LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,089 shares of the network equipment provider’s stock after selling 6,877 shares during the period. SeaCrest Wealth Management LLC’s holdings in Cisco Systems were worth $2,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Cisco Systems by 1.4% during the 2nd quarter. State Street Corp now owns 187,505,879 shares of the network equipment provider’s stock valued at $9,701,554,000 after purchasing an additional 2,626,429 shares in the last quarter. Morgan Stanley raised its position in shares of Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after acquiring an additional 9,160,347 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of Cisco Systems by 112,307.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after acquiring an additional 59,466,550 shares in the last quarter. FMR LLC grew its position in shares of Cisco Systems by 3.2% during the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after acquiring an additional 1,790,717 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Cisco Systems by 6.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock valued at $2,975,139,000 after purchasing an additional 3,087,294 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CSCO. Piper Sandler increased their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Barclays lifted their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Melius Research restated a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research report on Monday, January 8th. Finally, Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average target price of $56.42.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Trading Up 0.3 %

Shares of CSCO stock traded up $0.14 on Thursday, hitting $49.91. 18,137,448 shares of the stock traded hands, compared to its average volume of 19,930,795. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The stock has a market capitalization of $202.10 billion, a PE ratio of 15.19, a PEG ratio of 2.24 and a beta of 0.87. The firm’s 50-day moving average price is $49.77 and its two-hundred day moving average price is $50.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 EPS. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.16 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.21%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is currently 47.42%.

About Cisco Systems

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.