Prentice Wealth Management LLC Grows Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Prentice Wealth Management LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,872 shares of the network equipment provider’s stock after purchasing an additional 846 shares during the period. Prentice Wealth Management LLC’s holdings in Cisco Systems were worth $632,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CSCO. Summit Securities Group LLC acquired a new position in Cisco Systems during the second quarter worth approximately $25,000. Quarry LP grew its stake in Cisco Systems by 222.4% in the 2nd 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. Retirement Group LLC raised its holdings in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems in the second quarter valued at approximately $36,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Cisco Systems in the 1st quarter valued at about $41,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Price Performance

CSCO traded down $0.24 during midday trading on Monday, reaching $52.51. 10,273,721 shares of the company’s stock were exchanged, compared to its average volume of 19,321,611. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $54.58. The firm has a market capitalization of $211.55 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. The business has a 50-day simple moving average of $49.58 and a two-hundred day simple moving average of $48.26. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. As a group, research analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity at Cisco Systems

In other Cisco Systems news, 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 transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last 90 days. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CSCO shares. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Evercore ISI boosted their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, August 15th. Finally, Piper Sandler restated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and a consensus target price of $55.00.

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.