Insight 2811 Inc. Has $789,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Insight 2811 Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,833 shares of the network equipment provider’s stock after selling 1,175 shares during the period. Insight 2811 Inc.’s holdings in Cisco Systems were worth $789,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. Summit Securities Group LLC acquired a new position in Cisco Systems during the 2nd quarter worth about $25,000. Quarry LP boosted its holdings in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC increased its position in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems during the second quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC lifted its stake in shares of Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after purchasing an additional 766 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The trade was a 5.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,924 shares of company stock worth $1,798,131. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 0.2 %

Shares of NASDAQ CSCO traded down $0.12 during trading hours on Friday, hitting $57.80. The company had a trading volume of 2,795,975 shares, compared to its average volume of 19,030,658. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $54.00 and its 200-day moving average is $49.69. The stock has a market capitalization of $230.66 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.62%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. On average, analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.77%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent analyst reports. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday. Piper Sandler boosted their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays lifted their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday. Citigroup increased their target price on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $59.42.

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.