W.G. Shaheen & Associates DBA Whitney & Co Has $699,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

W.G. Shaheen & Associates DBA Whitney & Co reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,131 shares of the network equipment provider’s stock after selling 395 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Cisco Systems were worth $699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Cisco Systems during the 2nd quarter valued at approximately $25,000. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the last quarter. Quarry LP grew its position in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems in the second quarter valued at approximately $36,000. Finally, Iron Horse Wealth Management LLC increased its position in Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after acquiring an additional 766 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Down 0.3 %

CSCO stock opened at $57.31 on Tuesday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38. The stock’s fifty day simple moving average is $54.35 and its two-hundred day simple moving average is $49.88. The stock has a market cap of $228.71 billion, a P/E ratio of 24.60, a P/E/G ratio of 4.67 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

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, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for 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 business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. Analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.79%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Analyst Ratings Changes

Several analysts recently weighed in on CSCO shares. Evercore ISI boosted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Piper Sandler increased their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Tigress Financial raised their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Barclays upped their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.94.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This represents a 5.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,615 shares of company stock valued at $682,681 in the last quarter. Corporate insiders own 0.01% 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.