High Note Wealth LLC Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

High Note Wealth LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 31,359 shares of the network equipment provider’s stock after selling 1,262 shares during the period. High Note Wealth LLC’s holdings in Cisco Systems were worth $1,669,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caxton Associates LP boosted its position in shares of Cisco Systems by 642.8% during the 4th quarter. Caxton Associates LP now owns 40,759 shares of the network equipment provider’s stock worth $2,059,000 after purchasing an additional 35,272 shares during the period. Vivaldi Capital Management LP boosted its position in shares of Cisco Systems by 11.9% during the fourth quarter. Vivaldi Capital Management LP now owns 15,739 shares of the network equipment provider’s stock worth $781,000 after buying an additional 1,677 shares during the period. Pitcairn Co. grew its stake in shares of Cisco Systems by 3.0% in the fourth quarter. Pitcairn Co. now owns 72,126 shares of the network equipment provider’s stock valued at $3,644,000 after buying an additional 2,077 shares in the last quarter. Midland Wealth Advisors LLC acquired a new position in Cisco Systems during the 4th quarter worth about $1,678,000. Finally, Baird Financial Group Inc. boosted its stake in shares of Cisco Systems by 1.3% in the fourth quarter. Baird Financial Group Inc. now owns 5,939,693 shares of the network equipment provider’s stock valued at $300,073,000 after purchasing an additional 76,568 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CSCO shares. Barclays reduced their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Jefferies Financial Group decreased their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $55.00.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is owned by company insiders.

Cisco Systems Stock Up 1.6 %

Shares of NASDAQ CSCO opened at $53.56 on Thursday. The stock has a market cap of $215.78 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $54.58. The business has a 50-day moving average price of $49.76 and a 200 day moving average price of $48.30.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period last year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.99%. Cisco Systems’s payout ratio is 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.