Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,087 shares of the network equipment provider’s stock after selling 8,178 shares during the period. Apollon Wealth Management LLC’s holdings in Cisco Systems were worth $7,615,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Investment Management Associates Inc. ADV acquired a new position in Cisco Systems during the 3rd quarter worth about $213,000. Fountainhead AM LLC lifted its stake in Cisco Systems by 6.3% during the 3rd quarter. Fountainhead AM LLC now owns 21,976 shares of the network equipment provider’s stock worth $1,170,000 after acquiring an additional 1,301 shares in the last quarter. WCM Investment Management LLC lifted its stake in Cisco Systems by 406.9% during the 3rd quarter. WCM Investment Management LLC now owns 34,842 shares of the network equipment provider’s stock worth $1,847,000 after acquiring an additional 27,969 shares in the last quarter. Lynx Investment Advisory lifted its stake in Cisco Systems by 5.6% during the 3rd quarter. Lynx Investment Advisory now owns 4,419 shares of the network equipment provider’s stock worth $235,000 after acquiring an additional 236 shares in the last quarter. Finally, Tacita Capital Inc increased its holdings in Cisco Systems by 11.6% during the 3rd quarter. Tacita Capital Inc now owns 2,160 shares of the network equipment provider’s stock worth $115,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.0 %

Cisco Systems stock opened at $58.63 on Tuesday. The stock has a market capitalization of $233.98 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 4.81 and a beta of 0.83. 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, Inc. has a twelve month low of $44.50 and a twelve month high of $59.38. The stock has a 50 day moving average of $53.30 and a two-hundred day moving average of $49.42.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, research analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 62.99%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Tigress Financial upped their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Jefferies Financial Group cut their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Piper Sandler reiterated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Finally, Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Twelve 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. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average target price of $57.32.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated 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 in the company, valued at $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is owned by insiders.

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.