Crestwood Advisors Group LLC Decreases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Crestwood Advisors Group LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 2.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 175,552 shares of the network equipment provider’s stock after selling 4,283 shares during the period. Crestwood Advisors Group LLC’s holdings in Cisco Systems were worth $9,343,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Cisco Systems by 25.6% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 70,224 shares of the network equipment provider’s stock worth $3,737,000 after acquiring an additional 14,322 shares in the last quarter. Hanlon Investment Management Inc. purchased a new stake in shares of Cisco Systems in the 3rd quarter valued at approximately $226,000. Pittenger & Anderson Inc. increased its holdings in shares of Cisco Systems by 2.7% during the 3rd quarter. Pittenger & Anderson Inc. now owns 215,348 shares of the network equipment provider’s stock worth $11,461,000 after buying an additional 5,590 shares during the last quarter. Sentry Investment Management LLC lifted its holdings in Cisco Systems by 29.4% in the third quarter. Sentry Investment Management LLC now owns 18,458 shares of the network equipment provider’s stock valued at $982,000 after acquiring an additional 4,189 shares during the last quarter. Finally, United Advisor Group LLC acquired a new stake in Cisco Systems during the third quarter worth $528,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s 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 directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 over the last three months. 0.01% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on CSCO shares. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. Tigress Financial lifted their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.74.

Read Our Latest Stock Report on CSCO

Cisco Systems Trading Up 0.3 %

Shares of NASDAQ CSCO traded up $0.15 during trading on Tuesday, hitting $55.98. 1,478,628 shares of the company traded hands, compared to its average volume of 18,938,631. The firm has a market capitalization of $223.40 billion, a P/E ratio of 21.92, a P/E/G ratio of 4.60 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. The company has a 50-day moving average price of $52.73 and a 200-day moving average price of $49.16. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $57.06.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS 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 for the quarter, compared to the consensus estimate of $13.53 billion. During the same period last year, the business posted $1.01 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.86%. Cisco Systems’s dividend payout ratio is currently 62.99%.

Cisco Systems Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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