Legacy Capital Wealth Partners LLC Has $648,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Legacy Capital Wealth Partners LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,832 shares of the network equipment provider’s stock after selling 1,155 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Cisco Systems were worth $648,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cisco Systems during the 3rd quarter valued at approximately $27,000. Valued Wealth Advisors LLC acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $32,000. Morton Brown Family Wealth LLC grew its stake in shares of Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares during the last quarter. Bourgeon Capital Management LLC increased its holdings in shares of Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of Cisco Systems in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSCO. Morgan Stanley started coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective for the company. Barclays increased their price objective on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Citigroup started coverage on Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target for the company. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $55.53.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $47.86 on Monday. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $48.94 and its two-hundred day simple moving average is $50.01. The stock has a market cap of $193.79 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 2.76 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. As a group, analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were paid a $0.40 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s payout ratio is currently 48.63%.

Insider Buying and Selling at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock valued at $972,080 over the last three months. 0.02% of the stock is currently owned by insiders.

Cisco Systems Profile

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.