Drive Wealth Management LLC Has $914,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Drive Wealth Management LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 2.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,167 shares of the network equipment provider’s stock after selling 348 shares during the quarter. Drive Wealth Management LLC’s holdings in Cisco Systems were worth $914,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Cisco Systems by 226.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after buying an additional 18,339 shares during the last quarter. Davis R M Inc. lifted its position in Cisco Systems by 7.4% in the 1st quarter. Davis R M Inc. now owns 19,193 shares of the network equipment provider’s stock valued at $958,000 after acquiring an additional 1,324 shares in the last quarter. Delta Asset Management LLC TN boosted its stake in Cisco Systems by 1.7% during the 1st quarter. Delta Asset Management LLC TN now owns 16,111 shares of the network equipment provider’s stock valued at $804,000 after purchasing an additional 275 shares during the last quarter. PYA Waltman Capital LLC increased its holdings in Cisco Systems by 2.3% during the 1st quarter. PYA Waltman Capital LLC now owns 14,953 shares of the network equipment provider’s stock worth $746,000 after purchasing an additional 331 shares in the last quarter. Finally, Hilltop Partners LLC raised its stake in shares of Cisco Systems by 2.3% in the first quarter. Hilltop Partners LLC now owns 20,254 shares of the network equipment provider’s stock worth $1,011,000 after purchasing an additional 448 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $57.46 on Monday. The firm’s 50 day moving average is $54.18 and its 200 day moving average is $49.80. The stock has a market capitalization of $229.31 billion, a P/E ratio of 24.66, a PEG ratio of 4.76 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.38. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CSCO. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday. Bank of America lifted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, August 15th. Finally, HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.94.

Read Our Latest Stock Report on CSCO

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This trade represents a 6.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. The trade was a 5.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,924 shares of company stock valued at $1,798,131 in the last quarter. 0.01% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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