Clarity Financial LLC Decreases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Clarity Financial LLC cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 93.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 9,284 shares of the network equipment provider’s stock after selling 127,825 shares during the period. Clarity Financial LLC’s holdings in Cisco Systems were worth $463,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Valued Wealth Advisors LLC acquired a new stake in Cisco Systems in the 4th quarter valued at about $32,000. Delos Wealth Advisors LLC grew its position in shares of Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in shares of Cisco Systems during the 4th quarter worth approximately $33,000. Morton Brown Family Wealth LLC lifted its stake in Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC lifted its stake in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on CSCO shares. JPMorgan Chase & Co. began coverage on Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price objective on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Wednesday, June 5th. Barclays upped their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, May 17th. Wells Fargo & Company increased their price target on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Finally, Morgan Stanley initiated coverage on Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Stock Up 0.1 %

Shares of Cisco Systems stock opened at $46.93 on Thursday. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19. The stock has a market cap of $189.07 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.74 and a beta of 0.85. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average price of $47.11 and a 200 day moving average price of $48.83.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the firm earned $0.88 earnings per share. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. Equities research analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock worth $1,908,923 in the last 90 days. 0.02% of the stock is owned by corporate insiders.

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.