Buck Wealth Strategies LLC Sells 22,054 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Buck Wealth Strategies LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 148,067 shares of the network equipment provider’s stock after selling 22,054 shares during the quarter. Cisco Systems makes up approximately 2.5% of Buck Wealth Strategies LLC’s holdings, making the stock its 12th biggest holding. Buck Wealth Strategies LLC’s holdings in Cisco Systems were worth $7,880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Bank of New York Mellon Corp raised its holdings in Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after purchasing an additional 1,853,598 shares during the last quarter. Legal & General Group Plc lifted its holdings in Cisco Systems by 3.3% in the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after buying an additional 1,530,468 shares during the period. Dimensional Fund Advisors LP grew its holdings in Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares during the period. Swedbank AB bought a new stake in shares of Cisco Systems during the 1st quarter valued at $840,538,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Cisco Systems by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after purchasing an additional 2,906,357 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related 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 transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems 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 transaction, the senior vice president now owns 47,182 shares of the company’s stock, 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 sold a total of 70,529 shares of company stock worth $3,509,049 in the last three months. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 0.1 %

NASDAQ CSCO opened at $58.71 on Wednesday. The stock has a market capitalization of $234.30 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 4.86 and a beta of 0.83. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The stock’s 50 day moving average price is $53.46 and its two-hundred day moving average price is $49.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. The firm’s revenue was down 10.3% on a year-over-year basis. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group decreased their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Evercore ISI upped their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.32.

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.