Avidian Wealth Solutions LLC Has $1.16 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Avidian Wealth Solutions LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,873 shares of the network equipment provider’s stock after selling 1,698 shares during the period. Avidian Wealth Solutions LLC’s holdings in Cisco Systems were worth $1,156,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Horst & Graben Wealth Management LLC grew its position in Cisco Systems by 23.3% in the third quarter. Horst & Graben Wealth Management LLC now owns 5,226 shares of the network equipment provider’s stock valued at $281,000 after acquiring an additional 987 shares during the last quarter. Bouchey Financial Group Ltd acquired a new position in Cisco Systems during the 3rd quarter worth approximately $284,000. Mn Services Vermogensbeheer B.V. lifted its stake in Cisco Systems by 1.7% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 1,989,691 shares of the network equipment provider’s stock valued at $106,966,000 after purchasing an additional 32,700 shares during the last quarter. Gradient Capital Advisors LLC acquired a new stake in Cisco Systems in the third quarter valued at approximately $601,000. Finally, Total Clarity Wealth Management Inc. grew its stake in shares of Cisco Systems by 80.9% during the third quarter. Total Clarity Wealth Management Inc. now owns 24,465 shares of the network equipment provider’s stock worth $1,315,000 after buying an additional 10,940 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 in the last quarter. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of research reports. Barclays raised their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Wells Fargo & Company began coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective on the stock. Piper Sandler raised their target price on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. started coverage on Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target on the stock. Finally, Morgan Stanley assumed coverage on Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.53.

Cisco Systems Stock Performance

CSCO stock traded up $0.33 during mid-day trading on Friday, hitting $47.12. The company had a trading volume of 17,935,302 shares, compared to its average volume of 17,219,910. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The firm has a market cap of $190.80 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 2.72 and a beta of 0.87. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The stock’s fifty day moving average price is $48.79 and its two-hundred day moving average price is $49.77.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. During the same quarter in the previous year, the firm earned $0.76 EPS. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, analysts forecast that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.40%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. Cisco Systems’s payout ratio is presently 48.63%.

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.