Leo Wealth LLC Sells 5,425 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Leo Wealth LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 10.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,333 shares of the network equipment provider's stock after selling 5,425 shares during the quarter. Leo Wealth LLC's holdings in Cisco Systems were worth $2,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc grew its stake in shares of Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after acquiring an additional 166 shares in the last quarter. BlackDiamond Wealth Management LLC raised its stake in Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after purchasing an additional 168 shares in the last quarter. Legacy Financial Group Inc. raised its stake in Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after purchasing an additional 169 shares in the last quarter. Capital Advantage Inc. raised its stake in shares of Cisco Systems by 1.0% during the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock worth $1,028,000 after acquiring an additional 172 shares in the last quarter. Finally, Lynx Investment Advisory raised its stake in shares of Cisco Systems by 3.9% during the fourth quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider's stock worth $272,000 after acquiring an additional 174 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded up $0.80 during trading on Thursday, hitting $68.17. 8,375,980 shares of the stock were exchanged, compared to its average volume of 20,283,667. The stock has a market capitalization of $269.97 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 4.02 and a beta of 0.90. The company has a fifty day moving average price of $65.50 and a 200-day moving average price of $61.96. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Wolfe Research initiated coverage on Cisco Systems in a research report on Tuesday, July 8th. They set a "peer perform" rating for the company. JPMorgan Chase & Co. increased their price target on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Finally, Wall Street Zen lowered Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $69.95.

Insider Activity

In other Cisco Systems news, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the sale, the executive vice president owned 131,676 shares of the company's stock, valued at approximately $8,365,376.28. The trade was a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider directly owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by insiders.

About Cisco Systems

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.