Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Cut by Marcum Wealth LLC

Marcum Wealth LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 16.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,975 shares of the network equipment provider’s stock after selling 4,576 shares during the quarter. Marcum Wealth LLC’s holdings in Cisco Systems were worth $1,271,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. Lehman & Derafelo Financial Resources LLC boosted its stake in shares of Cisco Systems by 1.1% during the 1st quarter. Lehman & Derafelo Financial Resources LLC now owns 129,542 shares of the network equipment provider’s stock worth $6,699,000 after acquiring an additional 1,433 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in shares of Cisco Systems by 6.5% during the 1st quarter. Congress Asset Management Co. MA now owns 218,318 shares of the network equipment provider’s stock worth $11,289,000 after acquiring an additional 13,345 shares in the last quarter. TCW Group Inc. boosted its stake in shares of Cisco Systems by 1,747.8% during the 1st quarter. TCW Group Inc. now owns 606,974 shares of the network equipment provider’s stock worth $31,386,000 after acquiring an additional 574,126 shares in the last quarter. Destination Wealth Management boosted its stake in shares of Cisco Systems by 23.5% during the 1st quarter. Destination Wealth Management now owns 26,022 shares of the network equipment provider’s stock worth $1,346,000 after acquiring an additional 4,960 shares in the last quarter. Finally, Ballast Inc. boosted its stake in shares of Cisco Systems by 20.1% during the 1st quarter. Ballast Inc. now owns 26,032 shares of the network equipment provider’s stock worth $1,346,000 after acquiring an additional 4,357 shares in the last quarter. 71.92% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Charles Robbins sold 6,543 shares of the firm’s stock in a transaction dated Wednesday, August 25th. The stock was sold at an average price of $59.69, for a total value of $390,551.67. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Maria Martinez sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 23rd. The shares were sold at an average price of $58.52, for a total value of $234,080.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,529 shares of company stock worth $3,827,391. Corporate insiders own 0.02% of the company’s stock.

A number of analysts have recently issued reports on the company. Barclays increased their target price on Cisco Systems from $55.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, August 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $58.00 target price for the company in a report on Tuesday, July 27th. Citigroup increased their target price on Cisco Systems from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, August 19th. Raymond James increased their target price on Cisco Systems from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, August 19th. Finally, Piper Sandler increased their target price on Cisco Systems from $49.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, August 19th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Buy” and an average target price of $56.19.

NASDAQ CSCO traded down $0.24 during trading on Wednesday, hitting $57.63. 171,441 shares of the company traded hands, compared to its average volume of 18,916,217. Cisco Systems, Inc. has a 12 month low of $35.28 and a 12 month high of $60.27. The business has a fifty day simple moving average of $56.34 and a 200 day simple moving average of $53.33. The company has a current ratio of 1.49, a quick ratio of 1.43 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $243.07 billion, a P/E ratio of 23.15, a PEG ratio of 3.01 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Tuesday, August 17th. The network equipment provider reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.01. Cisco Systems had a return on equity of 30.82% and a net margin of 21.26%. The company had revenue of $13.13 billion for the quarter, compared to analyst estimates of $13.04 billion. During the same period last year, the company earned $0.80 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. Equities research analysts predict that Cisco Systems, Inc. will post 3.08 EPS for the current fiscal year.

Cisco Systems Company Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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

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