Aprio Wealth Management LLC Sells 690 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Aprio Wealth Management LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,495 shares of the network equipment provider’s stock after selling 690 shares during the period. Aprio Wealth Management LLC’s holdings in Cisco Systems were worth $374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Valued Wealth Advisors LLC acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $32,000. Delos Wealth Advisors LLC raised its stake in Cisco Systems by 1,666.7% during the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after buying an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Cisco Systems in the fourth quarter valued at $33,000. Morton Brown Family Wealth LLC boosted its position in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC boosted its position in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a report on Monday, May 13th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. Piper Sandler reiterated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research report on Wednesday, June 5th. Finally, Citigroup assumed coverage on shares of Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target for the company. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.47.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares in the company, valued at $8,717,209.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock valued at $1,908,923 over the last three months. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 1.2 %

Shares of Cisco Systems stock opened at $47.29 on Friday. The company has a market capitalization of $190.52 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 2.71 and a beta of 0.85. The stock has a fifty day simple moving average of $47.14 and a 200 day simple moving average of $48.83. Cisco Systems, Inc. has a 12-month low of $44.95 and a 12-month high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the prior year, the business posted $0.88 EPS. The business’s revenue was down 12.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.38%. Cisco Systems’s payout ratio is presently 53.87%.

Cisco Systems 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.