Tyche Wealth Partners LLC Sells 1,948 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Tyche Wealth Partners LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,656 shares of the network equipment provider’s stock after selling 1,948 shares during the period. Tyche Wealth Partners LLC’s holdings in Cisco Systems were worth $843,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CSCO. FMR LLC raised its position in Cisco Systems by 20.8% during the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares during the last quarter. Norges Bank bought a new position in Cisco Systems during the 4th quarter valued at approximately $3,297,905,000. Northern Trust Corp raised its position in Cisco Systems by 11.4% during the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock valued at $2,796,505,000 after purchasing an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cisco Systems by 7.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider’s stock valued at $2,159,099,000 after purchasing an additional 2,637,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock valued at $1,741,597,000 after purchasing an additional 681,555 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the transaction, the senior vice president now directly owns 36,937 shares in the company, valued at approximately $2,366,553.59. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider now owns 257,162 shares in the company, valued at $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 over the last 90 days. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CSCO shares. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Piper Sandler increased their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. New Street Research reissued a “neutral” rating and issued a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.11.

Cisco Systems Stock Up 0.8%

Cisco Systems stock opened at $67.89 on Wednesday. The firm has a market cap of $268.84 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 4.03 and a beta of 0.88. The stock has a fifty day simple moving average of $61.80 and a two-hundred day simple moving average of $60.90. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $68.04. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 EPS. Equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 66.94%.

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.