Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Reduced by Mindset Wealth Management LLC

Mindset Wealth Management LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,701 shares of the network equipment provider’s stock after selling 1,400 shares during the period. Mindset Wealth Management LLC’s holdings in Cisco Systems were worth $574,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter worth $26,000. Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at $31,000. Highline Wealth Partners LLC raised its stake in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares in the last quarter. Synergy Investment Management LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at $36,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth about $40,000. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by insiders.

Cisco Systems Trading Down 0.8 %

Shares of CSCO opened at $60.62 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $241.16 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The firm’s 50-day moving average price is $61.92 and its 200-day moving average price is $57.98.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has initiated a share repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.71%. Cisco Systems’s dividend payout ratio is currently 71.62%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CSCO. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. The Goldman Sachs Group upped their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Morgan Stanley increased their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler restated a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.63.

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.