Prospera Financial Services Inc Sells 54,428 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Prospera Financial Services Inc decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 23.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,559 shares of the network equipment provider’s stock after selling 54,428 shares during the period. Prospera Financial Services Inc’s holdings in Cisco Systems were worth $9,663,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Cisco Systems by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after acquiring an additional 288,775 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after purchasing an additional 51,924 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Cisco Systems by 10.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after purchasing an additional 162,544 shares during the period. Quintet Private Bank Europe S.A. boosted its position in shares of Cisco Systems by 17.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock worth $33,830,000 after purchasing an additional 92,179 shares in the last quarter. Finally, IRON Financial LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter valued at about $856,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CSCO. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Piper Sandler increased their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Rosenblatt Securities raised their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Tigress Financial lifted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 6.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,615 shares of company stock worth $682,681. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 0.3 %

CSCO stock opened at $57.31 on Tuesday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38. The stock has a market cap of $228.71 billion, a P/E ratio of 24.60, a P/E/G ratio of 4.67 and a beta of 0.83. The stock’s fifty day simple moving average is $54.35 and its two-hundred day simple moving average is $49.88. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.79%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

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.