High Note Wealth LLC Sells 2,383 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

High Note Wealth LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,695 shares of the network equipment provider’s stock after selling 2,383 shares during the quarter. Cisco Systems makes up approximately 1.1% of High Note Wealth LLC’s holdings, making the stock its 26th biggest position. High Note Wealth LLC’s holdings in Cisco Systems were worth $3,016,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. United Bank purchased a new stake in Cisco Systems during the 1st quarter valued at $645,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cisco Systems by 32.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock valued at $236,593,000 after buying an additional 1,040,607 shares during the period. Roundview Capital LLC raised its holdings in Cisco Systems by 13.1% during the 1st quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock valued at $588,000 after buying an additional 1,221 shares during the period. Merit Financial Group LLC raised its holdings in Cisco Systems by 21.5% during the 1st quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock valued at $656,000 after buying an additional 2,079 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Cisco Systems by 8.1% during the 1st quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock valued at $135,470,000 after buying an additional 182,857 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the topic of several research analyst reports. Melius Research reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Cisco Systems in a research report on Monday, January 8th. Wells Fargo & Company began coverage on Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target on the stock. Piper Sandler increased their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. UBS Group increased their price target on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.42.

Cisco Systems Stock Up 0.4 %

Shares of CSCO opened at $49.77 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The stock has a market capitalization of $201.53 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.24 and a beta of 0.87. The stock has a 50 day moving average price of $49.78 and a 200 day moving average price of $50.94.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 3.16 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be paid a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.21%. Cisco Systems’s dividend payout ratio is presently 47.42%.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,441 shares of company stock valued at $972,080. Corporate insiders own 0.02% of the company’s stock.

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.