GC Wealth Management RIA LLC Lowers Stock Holdings in Cisco Systems, Inc. $CSCO

GC Wealth Management RIA LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 38.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,724 shares of the network equipment provider's stock after selling 50,624 shares during the period. GC Wealth Management RIA LLC's holdings in Cisco Systems were worth $6,372,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Cisco Systems by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 398,943,293 shares of the network equipment provider's stock valued at $30,730,602,000 after purchasing an additional 4,049,893 shares during the period. Invesco Ltd. raised its stake in Cisco Systems by 10.5% in the third quarter. Invesco Ltd. now owns 53,612,720 shares of the network equipment provider's stock valued at $3,668,182,000 after buying an additional 5,081,469 shares in the last quarter. Northern Trust Corp raised its stake in Cisco Systems by 3.5% in the third quarter. Northern Trust Corp now owns 48,498,612 shares of the network equipment provider's stock valued at $3,318,275,000 after buying an additional 1,631,703 shares in the last quarter. Franklin Resources Inc. raised its stake in Cisco Systems by 4.4% in the third quarter. Franklin Resources Inc. now owns 42,641,483 shares of the network equipment provider's stock valued at $2,917,530,000 after buying an additional 1,804,625 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Cisco Systems by 7.2% in the third quarter. Legal & General Group Plc now owns 37,674,954 shares of the network equipment provider's stock valued at $2,577,720,000 after buying an additional 2,535,716 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,744 shares of Cisco Systems stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $77.07, for a total value of $134,410.08. Following the sale, the executive vice president owned 156,693 shares of the company's stock, valued at approximately $12,076,329.51. The trade was a 1.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Oliver Tuszik sold 3,132 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total value of $249,745.68. Following the completion of the sale, the executive vice president directly owned 188,613 shares in the company, valued at $15,040,000.62. This represents a 1.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 46,431 shares of company stock worth $3,574,820 in the last three months. Company insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CSCO shares. Argus upgraded Cisco Systems to a "strong-buy" rating in a research note on Friday, February 13th. Zacks Research cut Cisco Systems from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Evercore upgraded Cisco Systems from an "in-line" rating to an "outperform" rating and raised their price target for the company from $80.00 to $100.00 in a research note on Monday, January 26th. Erste Group Bank cut Cisco Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Finally, HSBC raised their price objective on Cisco Systems from $74.00 to $77.00 and gave the stock a "hold" rating in a report on Friday, February 13th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $89.81.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $86.92 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. Cisco Systems, Inc. has a 52-week low of $56.46 and a 52-week high of $90.45. The business's 50-day moving average price is $80.98 and its 200 day moving average price is $77.75. The firm has a market cap of $343.30 billion, a P/E ratio of 30.50, a P/E/G ratio of 3.33 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The firm had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same quarter last year, the company posted $0.94 earnings per share. The business's revenue was up 9.7% on a year-over-year basis. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.4 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. This is a boost from Cisco Systems's previous quarterly dividend of $0.41. Cisco Systems's dividend payout ratio is presently 58.95%.

Cisco Systems Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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