Western Wealth Management LLC Sells 38,682 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Western Wealth Management LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 49.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,931 shares of the network equipment provider's stock after selling 38,682 shares during the period. Western Wealth Management LLC's holdings in Cisco Systems were worth $2,305,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CSCO. FPC Investment Advisory Inc. bought a new position in Cisco Systems during the 4th quarter valued at approximately $26,000. Navigoe LLC bought a new position in Cisco Systems during the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems during the 4th quarter valued at approximately $26,000. JDM Financial Group LLC increased its position in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in Cisco Systems during the 4th quarter valued at approximately $30,000. Institutional investors own 73.33% of the company's stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the sale, the insider now directly owns 257,162 shares of the company's stock, valued at $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,431 shares of company stock worth $1,421,356. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

NASDAQ CSCO traded down $0.25 on Friday, hitting $63.11. 15,644,520 shares of the company traded hands, compared to its average volume of 20,334,237. The company has a market capitalization of $249.92 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 4.16 and a beta of 0.89. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The business's 50 day moving average price is $59.05 and its 200-day moving average price is $59.94. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. Equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.60%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CSCO. BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective for the company in a research report on Tuesday, January 28th. Piper Sandler increased their target price on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research note on Wednesday. Finally, Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $68.00.

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.