Marcum Wealth LLC Sells 3,701 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Marcum Wealth LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 17.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,926 shares of the network equipment provider’s stock after selling 3,701 shares during the quarter. Marcum Wealth LLC’s holdings in Cisco Systems were worth $1,002,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. FMR LLC lifted its stake in Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Cisco Systems by 327.5% in the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after buying an additional 5,223,800 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares during the period. Pathway Financial Advisers LLC lifted its stake in shares of Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after acquiring an additional 4,842,542 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Cisco Systems by 79.6% during the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after acquiring an additional 3,975,028 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the transaction, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Up 0.0 %

Shares of Cisco Systems stock opened at $58.76 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market cap of $234.03 billion, a P/E ratio of 25.22, a PEG ratio of 4.37 and a beta of 0.84. The firm’s 50 day moving average price is $58.73 and its 200-day moving average price is $53.26. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.23.

Cisco Systems (NASDAQ:CSCO) last released its quarterly 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 net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CSCO. Citigroup lifted their target price on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Piper Sandler lifted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company increased their price objective on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.28.

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.