SteelPeak Wealth LLC Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

SteelPeak Wealth LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 615,493 shares of the network equipment provider's stock after selling 24,708 shares during the quarter. Cisco Systems makes up 1.5% of SteelPeak Wealth LLC's investment portfolio, making the stock its 16th largest position. SteelPeak Wealth LLC's holdings in Cisco Systems were worth $36,437,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CSCO. Pflug Koory LLC grew its position in shares of Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock valued at $1,955,000 after purchasing an additional 165 shares in the last quarter. Beaumont Financial Advisors LLC grew its holdings in Cisco Systems by 1.7% during the 4th quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider's stock valued at $627,000 after buying an additional 173 shares in the last quarter. SeaCrest Wealth Management LLC increased its position in shares of Cisco Systems by 0.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider's stock valued at $1,879,000 after buying an additional 178 shares during the period. Aviso Wealth Management boosted its position in shares of Cisco Systems by 2.4% in the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider's stock valued at $405,000 after acquiring an additional 181 shares during the period. Finally, Waypoint Capital Advisors LLC grew its stake in Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider's stock valued at $346,000 after acquiring an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on CSCO shares. JPMorgan Chase & Co. raised Cisco Systems from a "neutral" rating to an "overweight" rating and raised their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. UBS Group lifted their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Tigress Financial raised their price target on Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Morgan Stanley raised their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. 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. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $62.72.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now owns 50,767 shares of the company's stock, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the sale, the executive vice president now owns 219,100 shares in the company, valued at $12,596,059. The trade was a 20.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 in the last 90 days. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.13 during trading on Friday, hitting $60.60. The company had a trading volume of 16,554,120 shares, compared to its average volume of 17,314,172. The stock has a 50 day simple moving average of $59.44 and a 200 day simple moving average of $54.49. The firm has a market capitalization of $241.36 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 4.43 and a beta of 0.84. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.31. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter last year, the business earned $0.98 earnings per share. Cisco Systems's quarterly revenue was down 5.6% compared to the same quarter last year. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Friday, January 3rd. Cisco Systems's dividend payout ratio is currently 68.67%.

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.