Hantz Financial Services Inc. Lowers Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Hantz Financial Services Inc. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 174,318 shares of the network equipment provider’s stock after selling 6,258 shares during the quarter. Hantz Financial Services Inc.’s holdings in Cisco Systems were worth $9,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in Cisco Systems during the 2nd quarter worth about $25,000. Quarry LP lifted its position in shares of 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. West Financial Advisors LLC boosted its stake in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the second quarter valued at approximately $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems during the third quarter valued at approximately $40,000. Institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler increased their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Morgan Stanley boosted their target price on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Rosenblatt Securities increased their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, Barclays lifted their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.94.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of Cisco Systems 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 339,479 shares of company stock valued at $19,490,991 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

Shares of CSCO opened at $59.21 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a 50-day moving average of $55.83 and a two-hundred day moving average of $50.52. The stock has a market cap of $235.82 billion, a P/E ratio of 25.41, a P/E/G ratio of 4.42 and a beta of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.87.

Cisco Systems (NASDAQ:CSCO) last issued its 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. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. As a group, research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

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.