Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Gradient Investments LLC

Posted by on Jun 28th, 2023

Gradient Investments LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 8.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,021 shares of the network equipment provider’s stock after selling 493 shares during the period. Gradient Investments LLC’s holdings in Cisco Systems were worth $262,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Retirement Financial Solutions LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $25,000. Steward Financial Group LLC purchased a new position in Cisco Systems during the 4th quarter worth $26,000. My Personal CFO LLC acquired a new position in Cisco Systems in the fourth quarter valued at $27,000. Fortis Capital Advisors LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $34,000. Finally, EWG Elevate Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth about $36,000. 71.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on CSCO shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Cisco Systems from $55.00 to $54.00 in a research note on Monday, May 22nd. Piper Sandler decreased their price target on Cisco Systems from $53.00 to $51.00 in a report on Thursday, May 18th. StockNews.com downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 7th. Barclays lowered their price objective on Cisco Systems from $52.00 to $51.00 in a report on Thursday, May 18th. Finally, Raymond James raised their price target on Cisco Systems from $63.00 to $64.00 in a report on Thursday, May 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.52.

Insider Activity at Cisco Systems

In other Cisco Systems news, Director Roderick C. Mcgeary sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $50.96, for a total value of $509,600.00. Following the completion of the transaction, the director now directly owns 103,992 shares of the company’s stock, valued at approximately $5,299,432.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Cisco Systems news, Director Roderick C. Mcgeary sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $50.96, for a total value of $509,600.00. Following the transaction, the director now directly owns 103,992 shares of the company’s stock, valued at approximately $5,299,432.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Prat Bhatt sold 2,707 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $48.50, for a total transaction of $131,289.50. Following the sale, the senior vice president now directly owns 46,022 shares of the company’s stock, valued at approximately $2,232,067. The disclosure for this sale can be found here. In the last three months, insiders sold 39,093 shares of company stock valued at $1,963,134. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $50.86 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 1.27 and a debt-to-equity ratio of 0.16. The company has a market cap of $207.26 billion, a PE ratio of 18.30, a P/E/G ratio of 2.29 and a beta of 1.01. The company’s fifty day simple moving average is $48.73 and its 200-day simple moving average is $48.89. Cisco Systems, Inc. has a 52 week low of $38.60 and a 52 week high of $52.56.

Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its earnings results on Wednesday, May 17th. The network equipment provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. The company had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $14.36 billion. Cisco Systems had a return on equity of 31.66% and a net margin of 20.89%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 earnings per share. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.38 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Thursday, July 6th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.56 annualized dividend and a dividend yield of 3.07%. Cisco Systems’s dividend payout ratio (DPR) is presently 56.12%.

About Cisco Systems

(Get Rating)

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

Featured Stories

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.