Clearwater Capital Advisors LLC Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Markets Daily

Clearwater Capital Advisors LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 3.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,960 shares of the network equipment provider’s stock after selling 257 shares during the quarter. Clearwater Capital Advisors LLC’s holdings in Cisco Systems were worth $374,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Per Stirling Capital Management LLC. raised its holdings in shares of Cisco Systems by 3.4% during the second quarter. Per Stirling Capital Management LLC. now owns 5,794 shares of the network equipment provider’s stock valued at $300,000 after acquiring an additional 188 shares in the last quarter. Wealth Dimensions Group Ltd. raised its holdings in shares of Cisco Systems by 1.4% during the second quarter. Wealth Dimensions Group Ltd. now owns 13,401 shares of the network equipment provider’s stock valued at $693,000 after acquiring an additional 188 shares in the last quarter. Strong Tower Advisory Services raised its holdings in shares of Cisco Systems by 1.3% during the third quarter. Strong Tower Advisory Services now owns 14,831 shares of the network equipment provider’s stock valued at $797,000 after acquiring an additional 190 shares in the last quarter. Richard W. Paul & Associates LLC raised its holdings in shares of Cisco Systems by 0.9% during the third quarter. Richard W. Paul & Associates LLC now owns 20,996 shares of the network equipment provider’s stock valued at $1,129,000 after acquiring an additional 191 shares in the last quarter. Finally, Cassia Capital Partners LLC raised its holdings in shares of Cisco Systems by 1.4% during the third quarter. Cassia Capital Partners LLC now owns 13,950 shares of the network equipment provider’s stock valued at $750,000 after acquiring an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Cisco Systems in a report on Thursday, October 5th. They set a “buy” rating for the company. UBS Group decreased their price objective on Cisco Systems from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, November 16th. DZ Bank downgraded 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. New Street Research downgraded Cisco Systems from a “buy” rating to a “neutral” rating in a report on Thursday, November 16th. Finally, Piper Sandler decreased their price objective on Cisco Systems from $57.00 to $50.00 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, twelve have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.38.

View Our Latest Stock Report on CSCO

Insiders Place Their Bets

In other news, Director Mark Garrett sold 899 shares of Cisco Systems stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $47.88, for a total transaction of $43,044.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Mark Garrett sold 899 shares of Cisco Systems stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $47.88, for a total transaction of $43,044.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 24,579 shares of Cisco Systems stock in a transaction that occurred 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 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. Over the last three months, insiders have sold 150,475 shares of company stock valued at $7,464,194. Insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 0.8 %

Cisco Systems stock opened at $50.51 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.47 and a quick ratio of 1.34. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The stock has a market capitalization of $205.25 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.40 and a beta of 0.91. The business’s fifty day moving average is $50.11 and its 200 day moving average is $52.36.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.91 by $0.20. The company had revenue of $14.67 billion for the quarter, compared to analysts’ expectations of $14.63 billion. Cisco Systems had a return on equity of 34.41% and a net margin of 23.40%. Cisco Systems’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.4 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Thursday, January 4th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, January 3rd. This represents a $1.56 annualized dividend and a yield of 3.09%. Cisco Systems’s payout ratio is 47.13%.

Cisco Systems Company Profile

(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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