Capstone Wealth Management Group LLC Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Cerbat Gem

Capstone Wealth Management Group LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 16.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,987 shares of the network equipment provider’s stock after selling 1,366 shares during the period. Capstone Wealth Management Group LLC’s holdings in Cisco Systems were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Kathleen S. Wright Associates Inc. bought a new position in shares of Cisco Systems in the 3rd quarter worth $27,000. Fortis Capital Advisors LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at $34,000. Hibernia Wealth Partners LLC purchased a new stake in shares of Cisco Systems in the 3rd quarter valued at $42,000. Spotlight Asset Group Inc. purchased a new stake in shares of Cisco Systems in the 2nd quarter valued at $41,000. Finally, VitalStone Financial LLC purchased a new stake in shares of Cisco Systems in the 2nd quarter valued at $45,000. Institutional investors own 72.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CSCO shares. Piper Sandler cut their price objective on shares of Cisco Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, November 16th. New Street Research cut shares of Cisco Systems from a “buy” rating to a “neutral” rating in a research report on Thursday, November 16th. Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. DZ Bank lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Friday, November 17th. Finally, Rosenblatt Securities decreased their price objective on shares of Cisco Systems from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.21.

Check Out Our Latest Report on CSCO

Cisco Systems Stock Performance

Shares of CSCO traded up $0.18 on Friday, reaching $50.13. The company’s stock had a trading volume of 24,076,857 shares, compared to its average volume of 17,756,492. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.47 and a quick ratio of 1.34. The stock has a market capitalization of $203.70 billion, a P/E ratio of 15.15, a PEG ratio of 2.38 and a beta of 0.90. The stock’s 50 day simple moving average is $50.19 and its two-hundred day simple moving average is $52.22. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.20. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. The business had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts forecast that Cisco Systems, Inc. will post 3.38 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Thursday, January 4th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Wednesday, January 3rd. Cisco Systems’s dividend payout ratio is currently 47.13%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 24,579 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $47.99, for a total value of $1,179,546.21. Following the transaction, the executive vice president now owns 210,395 shares of the company’s stock, valued at $10,096,856.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Richard Scott Herren sold 13,616 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $50.00, for a total transaction of $680,800.00. Following the sale, the chief financial officer now owns 452,315 shares of the company’s stock, valued at $22,615,750. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 24,579 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $47.99, for a total transaction of $1,179,546.21. Following the sale, the executive vice president now directly owns 210,395 shares in the company, valued at approximately $10,096,856.05. The disclosure for this sale can be found here. Insiders have sold 150,475 shares of company stock valued at $7,464,194 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

About Cisco Systems

(Free Report)

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.

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