SWS Partners Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

SWS Partners lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 21.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 26,873 shares of the network equipment provider’s stock after selling 7,444 shares during the quarter. SWS Partners’ holdings in Cisco Systems were worth $1,430,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Swedbank AB grew its stake in shares of Cisco Systems by 0.6% during the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after acquiring an additional 52,711 shares during the period. Zhang Financial LLC grew its stake in shares of Cisco Systems by 7.4% during the 3rd quarter. Zhang Financial LLC now owns 44,116 shares of the network equipment provider’s stock valued at $2,348,000 after acquiring an additional 3,046 shares during the period. Richwood Investment Advisors LLC bought a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $256,000. Occidental Asset Management LLC grew its stake in shares of Cisco Systems by 7.2% during the 3rd quarter. Occidental Asset Management LLC now owns 18,340 shares of the network equipment provider’s stock valued at $976,000 after acquiring an additional 1,228 shares during the period. Finally, Iams Wealth Management LLC bought a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $1,161,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was 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 of the company’s stock, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was 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 of the company’s stock, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. The trade was a 0.00 % decrease in their position. 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 over the last quarter. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CSCO. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Barclays dropped their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Finally, Piper Sandler restated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.21.

Cisco Systems Trading Down 0.2 %

CSCO stock traded down $0.13 during midday trading on Tuesday, reaching $54.14. The company’s stock had a trading volume of 8,985,870 shares, compared to its average volume of 19,071,289. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a fifty day simple moving average of $50.33 and a two-hundred day simple moving average of $48.42. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $54.60. The firm has a market capitalization of $218.12 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its earnings results 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 business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the firm posted $1.01 earnings per share. The business’s revenue was down 10.3% compared to the same quarter last year. On average, equities research analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced 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. 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 2.96%. Cisco Systems’s payout ratio is 53.87%.

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.