Beaird Harris Wealth Management LLC Sells 310 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Beaird Harris Wealth Management LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 30.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 723 shares of the network equipment provider’s stock after selling 310 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Cisco Systems were worth $36,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after purchasing an additional 6,345,954 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Cisco Systems by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 68,463,463 shares of the network equipment provider’s stock valued at $3,417,011,000 after purchasing an additional 2,386,508 shares during the last quarter. Norges Bank bought a new stake in Cisco Systems in the fourth quarter valued at about $2,528,939,000. Wellington Management Group LLP increased its holdings in Cisco Systems by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after purchasing an additional 3,314,330 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Cisco Systems by 12.3% in the fourth quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock valued at $1,260,033,000 after purchasing an additional 2,723,260 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the transaction, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,106 shares of company stock worth $1,908,923. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Oppenheimer increased their price target on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Piper Sandler restated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Price Performance

CSCO stock traded up $0.11 during midday trading on Monday, reaching $47.99. 11,228,033 shares of the stock were exchanged, compared to its average volume of 19,535,373. The stock has a market capitalization of $193.34 billion, a PE ratio of 16.08, a P/E/G ratio of 2.77 and a beta of 0.85. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The company has a fifty day moving average price of $46.73 and a 200 day moving average price of $48.35.

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

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.33%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

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.