Dakota Wealth Management Sells 3,556 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Markets Daily

Dakota Wealth Management lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 210,034 shares of the network equipment provider’s stock after selling 3,556 shares during the period. Dakota Wealth Management’s holdings in Cisco Systems were worth $12,961,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Navigoe LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. JDM Financial Group LLC boosted its holdings in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter valued at $30,000. Finally, Fairway Wealth LLC boosted its holdings in shares of Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In other news, insider Jeetendra I. Patel sold 899 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider owned 255,377 shares in the company, valued at $16,413,079.79. The trade was a 0.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the transaction, the executive vice president owned 174,669 shares in the company, valued at $11,447,806.26. The trade was a 4.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,335 shares of company stock worth $6,271,054. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CSCO shares. KeyCorp started coverage on Cisco Systems in a report on Thursday, June 26th. They set an “overweight” rating and a $77.00 price objective on the stock. Evercore ISI raised their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Rosenblatt Securities lifted their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $69.95.

Read Our Latest Research Report on Cisco Systems

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $67.95 on Monday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The firm has a market capitalization of $269.08 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 4.07 and a beta of 0.90. The business has a 50-day simple moving average of $65.02 and a 200 day simple moving average of $61.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period in the previous year, the company posted $0.88 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

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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