United Asset Strategies Inc. Decreases Holdings in Cisco Systems, Inc. $CSCO

United Asset Strategies Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,617 shares of the network equipment provider’s stock after selling 756 shares during the period. United Asset Strategies Inc.’s holdings in Cisco Systems were worth $2,055,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. Legacy Investment Solutions LLC bought a new position in Cisco Systems in the 2nd quarter worth about $28,000. Financial Connections Group Inc. increased its position in shares of Cisco Systems by 89.4% in the second quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock worth $28,000 after purchasing an additional 193 shares during the last quarter. Brown Shipley& Co Ltd bought a new stake in Cisco Systems during the second quarter valued at approximately $32,000. Pandora Wealth Inc. purchased a new position in Cisco Systems in the 1st quarter worth approximately $31,000. Finally, Nova Wealth Management Inc. bought a new position in shares of Cisco Systems in the 1st quarter worth $31,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.5%

Shares of NASDAQ CSCO opened at $71.71 on Wednesday. The firm’s 50 day moving average price is $69.33 and its 200-day moving average price is $67.16. Cisco Systems, Inc. has a 52-week low of $52.11 and a 52-week high of $74.84. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00. The company has a market cap of $282.59 billion, a PE ratio of 27.37, a P/E/G ratio of 3.00 and a beta of 0.95.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. Cisco Systems had a return on equity of 27.06% and a net margin of 18.45%.The business had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. During the same period last year, the business posted $0.87 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of Cisco Systems from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Rosenblatt Securities reiterated a “buy” rating and issued a $87.00 price target on shares of Cisco Systems in a report on Thursday, August 14th. Wells Fargo & Company raised their price objective on shares of Cisco Systems from $75.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. JPMorgan Chase & Co. upped their target price on Cisco Systems from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Finally, Piper Sandler upped their price target on Cisco Systems from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.50.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 30,557 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $66.63, for a total value of $2,036,012.91. Following the transaction, the chief executive officer owned 639,000 shares of the company’s stock, valued at approximately $42,576,570. This represents a 4.56% 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. Also, EVP Oliver Tuszik sold 17,526 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $67.95, for a total value of $1,190,891.70. Following the sale, the executive vice president owned 198,855 shares of the company’s stock, valued at approximately $13,512,197.25. This represents a 8.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 82,965 shares of company stock worth $5,559,996 in the last three months. 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.