Onyx Bridge Wealth Group LLC Purchases 381 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Onyx Bridge Wealth Group LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,452 shares of the network equipment provider’s stock after acquiring an additional 381 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Cisco Systems were worth $450,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Cisco Systems by 3.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 707,113 shares of the network equipment provider’s stock worth $37,633,000 after purchasing an additional 21,686 shares in the last quarter. Ballast Inc. grew its holdings in Cisco Systems by 0.9% during the 3rd quarter. Ballast Inc. now owns 27,488 shares of the network equipment provider’s stock valued at $1,463,000 after buying an additional 243 shares in the last quarter. TruWealth Advisors LLC grew its holdings in Cisco Systems by 2.0% during the 3rd quarter. TruWealth Advisors LLC now owns 424,745 shares of the network equipment provider’s stock valued at $22,605,000 after buying an additional 8,389 shares in the last quarter. Ellsworth Advisors LLC raised its position in shares of Cisco Systems by 5.5% during the third quarter. Ellsworth Advisors LLC now owns 103,033 shares of the network equipment provider’s stock valued at $5,483,000 after buying an additional 5,417 shares during the last quarter. Finally, Cardinal Capital Management lifted its holdings in shares of Cisco Systems by 1.4% in the third quarter. Cardinal Capital Management now owns 153,066 shares of the network equipment provider’s stock worth $8,146,000 after buying an additional 2,137 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 0.6 %

Shares of NASDAQ CSCO opened at $56.76 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $56.87. The firm has a 50-day simple moving average of $51.17 and a two-hundred day simple moving average of $48.60. The company has a market cap of $228.68 billion, a P/E ratio of 19.11, a PEG ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business earned $1.01 EPS. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.82%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Tigress Financial lifted their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Jefferies Financial Group decreased their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $62.00 in a report on Wednesday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.74.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is currently owned by company insiders.

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.