Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 37,671 shares of the network equipment provider’s stock after selling 1,357 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Cisco Systems were worth $2,230,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Tallon Kerry Patrick acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $603,000. Mirador Capital Partners LP raised its stake in shares of Cisco Systems by 1.9% in the fourth quarter. Mirador Capital Partners LP now owns 18,460 shares of the network equipment provider’s stock valued at $1,093,000 after acquiring an additional 342 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Cisco Systems by 2.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 119,747 shares of the network equipment provider’s stock worth $7,089,000 after purchasing an additional 3,270 shares in the last quarter. Flywheel Private Wealth LLC acquired a new stake in Cisco Systems in the 4th quarter valued at about $1,020,000. Finally, Smith Thornton Advisors LLC grew its position in shares of Cisco Systems by 9.2% during the fourth quarter. Smith Thornton Advisors LLC now owns 10,682 shares of the network equipment provider’s stock worth $632,000 after buying an additional 897 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $59.82 on Friday. The stock has a fifty day moving average price of $58.83 and a 200 day moving average price of $53.39. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The company has a market cap of $238.24 billion, a PE ratio of 25.67, a P/E/G ratio of 4.37 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CSCO. Piper Sandler boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Morgan Stanley boosted their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.28.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 4,881 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the sale, the senior vice president now owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 over the last quarter. Company insiders own 0.01% of the company’s stock.

About Cisco Systems

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.