Insight Wealth Partners LLC Purchases 1,118 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Insight Wealth Partners LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,801 shares of the network equipment provider’s stock after acquiring an additional 1,118 shares during the quarter. Insight Wealth Partners LLC’s holdings in Cisco Systems were worth $947,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems in the 2nd quarter worth about $25,000. West Financial Advisors LLC lifted its holdings in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the period. Quarry LP boosted its position in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC raised its position in shares of Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after acquiring an additional 766 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value 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. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 339,479 shares of company stock worth $19,490,991. 0.01% of the stock is owned by company insiders.

Analyst Ratings Changes

CSCO has been the topic of several recent research reports. UBS Group upped their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Citigroup upped their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Barclays boosted their price target on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Morgan Stanley raised their price target on Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a report 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 assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Stock Performance

CSCO opened at $59.59 on Wednesday. The company’s 50 day moving average is $55.35 and its 200 day moving average is $50.32. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company has a market cap of $237.33 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 4.38 and a beta of 0.83. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.64.

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

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 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.