Monterey Private Wealth Inc. Has $433,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Monterey Private Wealth Inc. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 12.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,148 shares of the network equipment provider’s stock after selling 1,423 shares during the quarter. Monterey Private Wealth Inc.’s holdings in Cisco Systems were worth $433,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CSCO. Cordant Inc. bought a new stake in Cisco Systems during the first quarter worth $28,000. Advanced Research Investment Solutions LLC lifted its stake in shares of Cisco Systems by 564.6% in the 1st quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider’s stock valued at $30,000 after acquiring an additional 463 shares during the last quarter. Conrad Siegel Investment Advisors Inc. bought a new position in shares of Cisco Systems in the 1st quarter valued at $33,000. PYA Waltman Capital LLC increased its holdings in Cisco Systems by 445.4% in the first quarter. PYA Waltman Capital LLC now owns 769 shares of the network equipment provider’s stock valued at $43,000 after purchasing an additional 628 shares during the period. Finally, Evolution Advisers Inc. increased its holdings in Cisco Systems by 48.2% in the first quarter. Evolution Advisers Inc. now owns 781 shares of the network equipment provider’s stock valued at $43,000 after purchasing an additional 254 shares during the period. Institutional investors and hedge funds own 71.71% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, SVP Prat Bhatt sold 19,168 shares of Cisco Systems stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $848,759.04. Following the completion of the sale, the senior vice president now directly owns 38,158 shares of the company’s stock, valued at approximately $1,689,636.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Prat Bhatt sold 19,168 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $848,759.04. Following the completion of the transaction, the senior vice president now directly owns 38,158 shares of the company’s stock, valued at $1,689,636.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Maria Martinez sold 2,831 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $48.39, for a total transaction of $136,992.09. Following the transaction, the chief operating officer now directly owns 278,012 shares of the company’s stock, valued at $13,453,000.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,317 shares of company stock valued at $2,612,042. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Down 2.3 %

CSCO opened at $41.59 on Thursday. The company has a fifty day moving average price of $45.13 and a 200-day moving average price of $47.62. The firm has a market capitalization of $170.89 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.33. Cisco Systems, Inc. has a one year low of $40.82 and a one year high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $13.10 billion during the quarter, compared to analyst estimates of $12.78 billion. Cisco Systems had a net margin of 22.91% and a return on equity of 31.12%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the business earned $0.76 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 3.1 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Tuesday, October 4th. Cisco Systems’s dividend payout ratio is currently 53.90%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CSCO. Credit Suisse Group increased their price target on Cisco Systems from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Barclays downgraded Cisco Systems from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $56.00 to $46.00 in a report on Wednesday. Evercore ISI increased their price target on Cisco Systems from $50.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Cowen increased their price target on Cisco Systems from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Finally, Raymond James reduced their target price on Cisco Systems from $63.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.10.

About Cisco Systems

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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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

Further Reading

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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