Wallace Advisory Group LLC Sells 396 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Wallace Advisory Group LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the 3rd quarter, Holdings Channel reports. The firm owned 21,255 shares of the network equipment provider’s stock after selling 396 shares during the period. Cisco Systems makes up approximately 0.8% of Wallace Advisory Group LLC’s investment portfolio, making the stock its 28th biggest position. Wallace Advisory Group LLC’s holdings in Cisco Systems were worth $1,131,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Mcintyre Freedman & Flynn Investment Advisers Inc. increased its position in shares of Cisco Systems by 0.3% during the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after acquiring an additional 202 shares in the last quarter. Baker Boyer National Bank increased its position in shares of Cisco Systems by 2.6% during the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after acquiring an additional 210 shares in the last quarter. Holland Advisory Services Inc. increased its position in shares of Cisco Systems by 5.3% during the first quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock valued at $211,000 after acquiring an additional 213 shares in the last quarter. WealthPLAN Partners LLC increased its position in shares of Cisco Systems by 3.0% during the first quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock valued at $369,000 after acquiring an additional 213 shares in the last quarter. Finally, Ruedi Wealth Management Inc. grew its position in Cisco Systems by 17.6% in the 1st quarter. Ruedi Wealth Management Inc. now owns 1,454 shares of the network equipment provider’s stock worth $73,000 after purchasing an additional 218 shares during the period. 73.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CSCO. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Evercore ISI lifted their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. Finally, Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and a consensus price target of $55.00.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

CSCO stock traded up $0.32 during mid-day trading on Friday, hitting $52.75. The company had a trading volume of 11,728,606 shares, compared to its average volume of 19,368,709. The company has a market capitalization of $212.52 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 4.11 and a beta of 0.83. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $54.58. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $49.58 and a 200 day moving average price of $48.28.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 EPS. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.03%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

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.