Cisco Systems, Inc. $CSCO Shares Sold by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 78.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,500 shares of the network equipment provider’s stock after selling 16,690 shares during the period. Hohimer Wealth Management LLC’s holdings in Cisco Systems were worth $308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Benchmark Financial Wealth Advisors LLC increased its position in shares of Cisco Systems by 1.4% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 10,449 shares of the network equipment provider’s stock worth $715,000 after acquiring an additional 142 shares during the period. Yoder Wealth Management Inc. grew its stake in Cisco Systems by 3.8% during the 3rd quarter. Yoder Wealth Management Inc. now owns 3,945 shares of the network equipment provider’s stock worth $270,000 after purchasing an additional 143 shares in the last quarter. Weaver Consulting Group increased its holdings in Cisco Systems by 1.5% during the 3rd quarter. Weaver Consulting Group now owns 9,940 shares of the network equipment provider’s stock worth $680,000 after purchasing an additional 145 shares during the period. Wynn Capital LLC raised its position in Cisco Systems by 0.3% in the 3rd quarter. Wynn Capital LLC now owns 48,456 shares of the network equipment provider’s stock valued at $3,315,000 after purchasing an additional 150 shares in the last quarter. Finally, Old North State Trust LLC raised its position in Cisco Systems by 0.6% in the 2nd quarter. Old North State Trust LLC now owns 24,534 shares of the network equipment provider’s stock valued at $1,702,000 after purchasing an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, Director Michael D. Capellas sold 10,850 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $77.13, for a total value of $836,860.50. Following the completion of the sale, the director directly owned 146,368 shares of the company’s stock, valued at approximately $11,289,363.84. This represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeetendra I. Patel sold 11,248 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $854,848.00. Following the sale, the insider owned 262,776 shares of the company’s stock, valued at $19,970,976. This trade represents a 4.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 75,677 shares of company stock worth $5,811,211 over the last 90 days. Company insiders own 0.01% of the company’s stock.

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Cisco Systems Stock Up 1.7%

Cisco Systems stock opened at $79.46 on Friday. Cisco Systems, Inc. has a fifty-two week low of $52.11 and a fifty-two week high of $88.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. The company has a market capitalization of $313.86 billion, a P/E ratio of 27.88, a PEG ratio of 2.95 and a beta of 0.87. The stock has a 50-day simple moving average of $77.82 and a 200-day simple moving average of $73.71.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The firm had revenue of $15.35 billion for the quarter, compared to the consensus estimate of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio is presently 57.54%.

Analyst Ratings Changes

A number of equities analysts have recently commented on CSCO shares. Evercore raised Cisco Systems from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $100.00 in a research report on Monday, January 26th. President Capital decreased their price target on shares of Cisco Systems from $90.00 to $88.00 in a research note on Wednesday, December 24th. Citic Securities increased their price objective on shares of Cisco Systems from $75.00 to $90.00 in a research report on Monday, November 17th. Melius Research raised their price objective on shares of Cisco Systems from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Finally, DZ Bank raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.55.

Read Our Latest Report on CSCO

About Cisco Systems

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

Further Reading

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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