BetterWealth LLC Sells 4,506 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

BetterWealth LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 49.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,679 shares of the network equipment provider's stock after selling 4,506 shares during the period. BetterWealth LLC's holdings in Cisco Systems were worth $289,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CSCO. Mainstream Capital Management LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $132,000. Proficio Capital Partners LLC lifted its position in shares of Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after buying an additional 7,338 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Cisco Systems by 28.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock worth $249,180,000 after buying an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario grew its holdings in shares of Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after acquiring an additional 59,680 shares in the last quarter. Finally, AlTi Global Inc. increased its position in shares of Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock valued at $1,217,000 after acquiring an additional 6,811 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the sale, the insider directly owned 255,377 shares in the company, valued at $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the transaction, the senior vice president directly owned 36,937 shares of the company's stock, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

NASDAQ CSCO traded down $0.51 during trading hours on Wednesday, hitting $68.59. The company had a trading volume of 16,580,102 shares, compared to its average volume of 20,288,633. The firm has a 50 day simple moving average of $63.15 and a 200 day simple moving average of $61.25. The firm has a market capitalization of $271.62 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 4.13 and a beta of 0.90. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.39%. Cisco Systems's dividend payout ratio is currently 66.94%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSCO. Rosenblatt Securities upped their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Evercore ISI boosted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. KeyCorp started coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 target price for the company. Finally, Piper Sandler lifted their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and a consensus price target of $69.53.

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.