Transform Wealth LLC Sells 48,581 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)
by Tristan Rich · The Markets Daily
Transform Wealth LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 17.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 230,743 shares of the network equipment provider’s stock after selling 48,581 shares during the period. Cisco Systems accounts for 1.3% of Transform Wealth LLC’s portfolio, making the stock its 20th largest position. Transform Wealth LLC’s holdings in Cisco Systems were worth $12,405,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Per Stirling Capital Management LLC. boosted its holdings in shares of Cisco Systems by 3.4% in the 2nd quarter. Per Stirling Capital Management LLC. now owns 5,794 shares of the network equipment provider’s stock valued at $300,000 after buying an additional 188 shares in the last quarter. Wealth Dimensions Group Ltd. lifted its position in Cisco Systems by 1.4% in 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 during the last quarter. Strong Tower Advisory Services boosted its stake in Cisco Systems by 1.3% in 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. Delta Financial Advisors LLC grew its holdings in shares of Cisco Systems by 2.3% during the second quarter. Delta Financial Advisors LLC now owns 8,668 shares of the network equipment provider’s stock worth $448,000 after purchasing an additional 192 shares during the last quarter. Finally, Pflug Koory LLC increased its position in shares of Cisco Systems by 0.5% during the second quarter. Pflug Koory LLC now owns 41,514 shares of the network equipment provider’s stock worth $2,148,000 after purchasing an additional 195 shares in the last quarter. 72.21% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on CSCO shares. Tigress Financial raised their price target on Cisco Systems from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, September 22nd. Piper Sandler lowered their target price on shares of Cisco Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, November 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company a “hold” rating in a research report on Monday, August 21st. DZ Bank downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research report on Friday, November 17th. Finally, Rosenblatt Securities reduced their target price 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, twelve have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average target price of $58.38.
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Insider Activity at Cisco Systems
In other Cisco Systems news, CFO Richard Scott Herren sold 106,321 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $50.02, for a total value of $5,318,176.42. Following the sale, the chief financial officer now directly owns 345,994 shares of the company’s stock, valued at approximately $17,306,619.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Cisco Systems news, CFO Richard Scott Herren sold 106,321 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $50.02, for a total transaction of $5,318,176.42. Following the transaction, the chief financial officer now owns 345,994 shares of the company’s stock, valued at $17,306,619.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark Garrett sold 899 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $47.88, for a total transaction of $43,044.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,475 shares of company stock worth $7,464,194. 0.02% of the stock is currently owned by insiders.
Cisco Systems Price Performance
NASDAQ:CSCO opened at $50.24 on Tuesday. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The firm has a market cap of $204.15 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 2.34 and a beta of 0.91. The company’s 50-day moving average is $50.87 and its two-hundred day moving average is $52.40. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.15.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.20. The business had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Research analysts expect that Cisco Systems, Inc. will post 3.4 EPS for the current year.
Cisco Systems Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Thursday, January 4th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Wednesday, January 3rd. Cisco Systems’s dividend payout ratio is currently 47.13%.
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.
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