Simplicity Wealth LLC Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Simplicity Wealth LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 85.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,838 shares of the network equipment provider’s stock after selling 137,839 shares during the period. Simplicity Wealth LLC’s holdings in Cisco Systems were worth $1,269,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in Cisco Systems in the second quarter valued at approximately $25,000. Quarry LP grew its holdings in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC increased its stake in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the period. Retirement Group LLC lifted its holdings in Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in Cisco Systems in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.3 %

Cisco Systems stock opened at $54.25 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $54.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm has a market capitalization of $216.50 billion, a price-to-earnings ratio of 21.36, a P/E/G ratio of 4.22 and a beta of 0.83. The company has a 50 day moving average price of $50.14 and a 200 day moving average price of $48.40.

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

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.95%. Cisco Systems’s dividend payout ratio is 62.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CSCO. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. HSBC raised 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. Barclays decreased their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Rosenblatt Securities lifted their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and a consensus price target of $55.00.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the business’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 transaction of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 over the last three months. 0.02% of the stock is owned by corporate insiders.

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.