Sunpointe LLC Sells 662 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sunpointe LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.8% in the third quarter, HoldingsChannel reports. The firm owned 5,462 shares of the network equipment provider’s stock after selling 662 shares during the period. Sunpointe LLC’s holdings in Cisco Systems were worth $291,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CSCO. Scarborough Advisors LLC bought a new stake in Cisco Systems in the fourth quarter worth $68,000. GAMMA Investing LLC boosted its holdings in Cisco Systems by 15.8% in the first quarter. GAMMA Investing LLC now owns 61,502 shares of the network equipment provider’s stock worth $3,070,000 after purchasing an additional 8,394 shares in the last quarter. Butensky & Cohen Financial Security Inc. boosted its holdings in Cisco Systems by 2.1% in the first quarter. Butensky & Cohen Financial Security Inc. now owns 92,234 shares of the network equipment provider’s stock worth $4,603,000 after purchasing an additional 1,913 shares in the last quarter. Atlas Brown Inc. boosted its holdings in Cisco Systems by 5.6% during the first quarter. Atlas Brown Inc. now owns 21,995 shares of the network equipment provider’s stock valued at $1,098,000 after acquiring an additional 1,170 shares during the period. Finally, Tompkins Financial Corp boosted its holdings in Cisco Systems by 7.6% during the first quarter. Tompkins Financial Corp now owns 240,439 shares of the network equipment provider’s stock valued at $12,000,000 after acquiring an additional 17,034 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

Shares of CSCO traded up $1.45 during mid-day trading on Wednesday, hitting $55.53. 4,227,762 shares of the company traded hands, compared to its average volume of 19,052,473. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $55.73. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $50.51 and a 200 day moving average of $48.45. The stock has a market capitalization of $223.72 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. Cisco Systems’s payout ratio is presently 53.87%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on CSCO. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Rosenblatt Securities upped their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Jefferies Financial Group cut their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.74.

Cisco Systems 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.