Clearview Wealth Advisors LLC Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Clearview Wealth Advisors LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,977 shares of the network equipment provider’s stock after selling 350 shares during the quarter. Clearview Wealth Advisors LLC’s holdings in Cisco Systems were worth $478,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Braun Bostich & Associates Inc. boosted its holdings in shares of Cisco Systems by 4.6% in the 3rd quarter. Braun Bostich & Associates Inc. now owns 6,325 shares of the network equipment provider’s stock worth $337,000 after buying an additional 276 shares during the last quarter. 626 Financial LLC bought a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $217,000. EdgeRock Capital LLC increased its stake in shares of Cisco Systems by 5.3% during the 3rd quarter. EdgeRock Capital LLC now owns 4,529 shares of the network equipment provider’s stock worth $241,000 after purchasing an additional 226 shares during the last quarter. Lynch & Associates IN raised its holdings in shares of Cisco Systems by 0.9% in the 3rd quarter. Lynch & Associates IN now owns 148,990 shares of the network equipment provider’s stock worth $7,929,000 after purchasing an additional 1,343 shares during the period. Finally, Foster Victor Wealth Advisors LLC lifted its stake in Cisco Systems by 5.7% in the third quarter. Foster Victor Wealth Advisors LLC now owns 287,979 shares of the network equipment provider’s stock valued at $15,424,000 after purchasing an additional 15,489 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $54.08 on Wednesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $54.61. The company has a fifty day moving average of $50.51 and a 200-day moving average of $48.45. The company has a market capitalization of $217.88 billion, a P/E ratio of 18.21, a P/E/G ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

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

Cisco Systems Dividend Announcement

The business also recently declared 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 2.96%. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of recent research reports. Tigress Financial raised their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.74.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated 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 owns 683,403 shares in the company, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 dated 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 sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 in the last ninety days. Company insiders own 0.02% of the company’s stock.

About Cisco Systems

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.