SeaCrest Wealth Management LLC Sells 6,877 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

SeaCrest Wealth Management LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 49,089 shares of the network equipment provider’s stock after selling 6,877 shares during the period. SeaCrest Wealth Management LLC’s holdings in Cisco Systems were worth $2,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in CSCO. Kathleen S. Wright Associates Inc. bought a new position in shares of Cisco Systems during the 3rd quarter worth about $27,000. Valued Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $32,000. Fortis Capital Advisors LLC acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $34,000. Hibernia Wealth Partners LLC acquired a new stake in Cisco Systems in the 3rd quarter valued at $42,000. Finally, VitalStone Financial LLC bought a new stake in Cisco Systems in the second quarter valued at $45,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CSCO shares. Melius Research reaffirmed a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a report on Monday, January 8th. Barclays boosted their target price on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Piper Sandler increased their target price on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Finally, Wells Fargo & Company started coverage on shares of Cisco Systems in a report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price objective on the stock. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.42.

Cisco Systems Stock Up 0.3 %

Shares of CSCO traded up $0.14 during midday trading on Thursday, hitting $49.91. The stock had a trading volume of 18,137,448 shares, compared to its average volume of 19,930,795. The company has a 50 day simple moving average of $49.77 and a two-hundred day simple moving average of $50.93. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The firm has a market cap of $202.10 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 2.24 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post 3.16 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.21%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s payout ratio is 47.42%.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 over the last ninety days. Insiders own 0.02% of the company’s stock.

Cisco Systems Company 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.