Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Trimmed by Allen Wealth Management LLC

Allen Wealth Management LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,526 shares of the network equipment provider’s stock after selling 1,675 shares during the period. Cisco Systems makes up about 2.3% of Allen Wealth Management LLC’s holdings, making the stock its 7th biggest holding. Allen Wealth Management LLC’s holdings in Cisco Systems were worth $3,228,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Arete Wealth Advisors LLC raised its holdings in Cisco Systems by 6.3% in the fourth quarter. Arete Wealth Advisors LLC now owns 34,067 shares of the network equipment provider’s stock valued at $2,011,000 after buying an additional 2,029 shares during the period. World Investment Advisors raised its stake in shares of Cisco Systems by 13.4% in the 4th quarter. World Investment Advisors now owns 155,899 shares of the network equipment provider’s stock valued at $9,229,000 after acquiring an additional 18,396 shares during the period. Westpac Banking Corp lifted its holdings in shares of Cisco Systems by 2.4% during the 4th quarter. Westpac Banking Corp now owns 194,178 shares of the network equipment provider’s stock valued at $11,495,000 after acquiring an additional 4,552 shares in the last quarter. Nicolet Advisory Services LLC boosted its position in Cisco Systems by 10.2% during the 4th quarter. Nicolet Advisory Services LLC now owns 21,731 shares of the network equipment provider’s stock worth $1,276,000 after purchasing an additional 2,018 shares during the period. Finally, SevenBridge Financial Group LLC increased its holdings in Cisco Systems by 1.2% in the 4th quarter. SevenBridge Financial Group LLC now owns 111,640 shares of the network equipment provider’s stock valued at $6,970,000 after purchasing an additional 1,315 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the subject of several analyst reports. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. UBS Group increased their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. StockNews.com downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.63.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock worth $4,275,553 in the last 90 days. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

Cisco Systems stock opened at $61.82 on Thursday. The company has a market cap of $245.94 billion, a PE ratio of 27.00, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a fifty day moving average price of $62.16 and a two-hundred day moving average price of $58.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.65%. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Cisco Systems announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.