Iams Wealth Management LLC Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Iams Wealth Management LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 79.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,450 shares of the network equipment provider’s stock after selling 17,370 shares during the period. Iams Wealth Management LLC’s holdings in Cisco Systems were worth $263,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP grew its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the period. Gateway Wealth Partners LLC grew its position in Cisco Systems by 14.3% in the 2nd quarter. Gateway Wealth Partners LLC now owns 5,576 shares of the network equipment provider’s stock worth $265,000 after purchasing an additional 698 shares during the period. Pathway Financial Advisers LLC grew its position in Cisco Systems by 0.3% in the 2nd quarter. Pathway Financial Advisers LLC now owns 92,565 shares of the network equipment provider’s stock worth $4,392,000 after purchasing an additional 321 shares during the period. Granite Bay Wealth Management LLC bought a new stake in Cisco Systems in the 2nd quarter worth approximately $3,358,000. Finally, Ariadne Wealth Management LP bought a new stake in Cisco Systems in the 2nd quarter worth approximately $264,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 58,188 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the transaction, the executive vice president now directly owns 219,100 shares in the company, valued at $12,596,059. The trade was a 20.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 over the last ninety days. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $60.42 on Wednesday. The firm has a market cap of $240.65 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 4.59 and a beta of 0.84. The firm’s 50 day simple moving average is $59.30 and its 200-day simple moving average is $54.32. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $62.31. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Analyst Ratings Changes

A number of research firms have commented on CSCO. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Bank of America boosted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Piper Sandler boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Tigress Financial boosted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.72.

About Cisco Systems

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.