Fifth Third Wealth Advisors LLC Sells 2,263 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fifth Third Wealth Advisors LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 53,788 shares of the network equipment provider’s stock after selling 2,263 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Cisco Systems were worth $2,863,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CSCO. Aviso Wealth Management lifted its holdings in shares of Cisco Systems by 2.4% in the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after acquiring an additional 181 shares during the last quarter. Waypoint Capital Advisors LLC increased its position in Cisco Systems by 2.9% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after purchasing an additional 182 shares in the last quarter. Andina Capital Management LLC lifted its stake in Cisco Systems by 3.6% in the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after purchasing an additional 182 shares during the last quarter. Meridian Financial Partners LLC grew its stake in shares of Cisco Systems by 3.8% during the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock worth $267,000 after buying an additional 185 shares during the last quarter. Finally, Gleason Group Inc. increased its holdings in shares of Cisco Systems by 0.9% during the third quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock worth $1,207,000 after buying an additional 193 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CSCO. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Morgan Stanley boosted their price target on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Piper Sandler raised their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Finally, New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $59.94.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. This represents a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. This represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,615 shares of company stock worth $682,681 in the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.3 %

Shares of CSCO stock opened at $57.31 on Tuesday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a 50 day simple moving average of $54.35 and a two-hundred day simple moving average of $49.88. The company has a market cap of $228.71 billion, a P/E ratio of 24.60, a PEG ratio of 4.67 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 EPS. Research analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.79%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Cisco Systems Company 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.