Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 24,102 shares of the network equipment provider’s stock after selling 645 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Cisco Systems were worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Highline Wealth Partners LLC boosted its stake in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Cisco Systems in the third quarter valued at about $40,000. Decker Retirement Planning Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $49,000. Capital Performance Advisors LLP purchased a new stake in shares of Cisco Systems in the third quarter valued at about $51,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Cisco Systems in the third quarter valued at about $56,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In other news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 over the last ninety days. 0.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

CSCO has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Piper Sandler upped their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Bank of America upped their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their target price for the company from $55.00 to $66.00 in a report on Monday, November 11th. Finally, Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Trading Up 0.2 %

Shares of CSCO opened at $62.53 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average is $59.84 and its two-hundred day moving average is $55.31. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $63.25. The firm has a market capitalization of $249.04 billion, a P/E ratio of 26.84, a PEG ratio of 4.63 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. On average, research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a $0.41 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.62%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Cisco Systems 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.