Silverlake Wealth Management LLC Has $470,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Silverlake Wealth Management LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 23.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,936 shares of the network equipment provider’s stock after selling 2,372 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Cisco Systems were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Sargent Investment Group LLC lifted its holdings in Cisco Systems by 16.0% during the 4th quarter. Sargent Investment Group LLC now owns 6,308 shares of the network equipment provider’s stock worth $371,000 after purchasing an additional 872 shares during the last quarter. Cassia Capital Partners LLC lifted its holdings in Cisco Systems by 30.2% during the 4th quarter. Cassia Capital Partners LLC now owns 17,033 shares of the network equipment provider’s stock worth $1,008,000 after purchasing an additional 3,950 shares during the last quarter. 1858 Wealth Management LLC lifted its holdings in Cisco Systems by 14.0% during the 4th quarter. 1858 Wealth Management LLC now owns 19,656 shares of the network equipment provider’s stock worth $1,164,000 after purchasing an additional 2,420 shares during the last quarter. Avitas Wealth Management LLC lifted its holdings in Cisco Systems by 0.7% during the 4th quarter. Avitas Wealth Management LLC now owns 37,219 shares of the network equipment provider’s stock worth $2,203,000 after purchasing an additional 256 shares during the last quarter. Finally, Greenwood Capital Associates LLC acquired a new stake in Cisco Systems during the 4th quarter worth approximately $1,751,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Up 0.5 %

Shares of CSCO stock opened at $61.34 on Wednesday. The firm has a market capitalization of $244.30 billion, a P/E ratio of 26.33, a P/E/G ratio of 4.51 and a beta of 0.84. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $62.31. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $59.49 and its 200 day simple moving average is $54.67.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.61%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. UBS Group lifted their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Piper Sandler lifted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $55.00 to $66.00 in a report on Monday, November 11th. Finally, Melius raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company 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, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.72.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by company insiders.

Cisco Systems 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.