1620 Investment Advisors Inc. Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

1620 Investment Advisors Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 58.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,271 shares of the network equipment provider’s stock after selling 4,625 shares during the period. 1620 Investment Advisors Inc.’s holdings in Cisco Systems were worth $174,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CSCO. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems in the 2nd quarter valued at approximately $25,000. Quarry LP grew its position in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the period. Retirement Group LLC grew its stake in shares of Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Cisco Systems in the second quarter worth about $36,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’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 completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, 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 filing with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’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 transaction of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares in the company, valued at $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. In the last quarter, insiders sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CSCO. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Tigress Financial raised their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Barclays dropped their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Piper Sandler reiterated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.74.

Cisco Systems Trading Down 0.2 %

Shares of Cisco Systems stock opened at $55.59 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $52.44 and its 200 day moving average price is $49.00. The firm has a market capitalization of $221.84 billion, a PE ratio of 21.89, a P/E/G ratio of 4.22 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.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion during 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%. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business earned $1.01 earnings per share. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were issued a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. Cisco Systems’s payout ratio is currently 62.99%.

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.