Shepherd Financial Partners LLC Sells 13,092 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Shepherd Financial Partners LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 42.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,419 shares of the network equipment provider’s stock after selling 13,092 shares during the period. Shepherd Financial Partners LLC’s holdings in Cisco Systems were worth $927,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Waypoint Capital Advisors LLC raised its holdings in Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after purchasing an additional 182 shares in the last quarter. Andina Capital Management LLC raised its stake in shares of Cisco Systems by 3.6% during the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock worth $279,000 after acquiring an additional 182 shares in the last quarter. Meridian Financial Partners LLC lifted its position in Cisco Systems by 3.8% during the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after acquiring an additional 185 shares during the last quarter. Gleason Group Inc. boosted its stake in Cisco Systems by 0.9% in the third quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock valued at $1,207,000 after acquiring an additional 193 shares in the last quarter. Finally, Cassia Capital Partners LLC grew its holdings in Cisco Systems by 1.5% in the third quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider’s stock worth $696,000 after purchasing an additional 195 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

CSCO traded up $0.90 during trading on Friday, hitting $55.67. The company’s stock had a trading volume of 3,533,334 shares, compared to its average volume of 18,973,662. The firm has a market capitalization of $222.16 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 4.61 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06. The business’s fifty day simple moving average is $52.53 and its 200 day simple moving average is $49.04. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results 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. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal 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 paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 62.99%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CSCO shares. Tigress Financial raised their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. Rosenblatt Securities boosted their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. Twelve research 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.74.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems 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 sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at $8,181,307.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $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 three months, insiders have sold 70,529 shares of company stock worth $3,509,049. 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.