McGlone Suttner Wealth Management Inc. Sells 217 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

McGlone Suttner Wealth Management Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,764 shares of the network equipment provider’s stock after selling 217 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Cisco Systems were worth $847,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. Moneta Group Investment Advisors LLC raised its holdings in shares of Cisco Systems by 112,307.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after purchasing an additional 59,466,550 shares during the period. Norges Bank bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $2,028,781,000. Morgan Stanley raised its holdings in shares of Cisco Systems by 17.4% in the 4th quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after purchasing an additional 9,160,347 shares during the period. Barclays PLC raised its holdings in shares of Cisco Systems by 83.6% in the 2nd quarter. Barclays PLC now owns 14,544,909 shares of the network equipment provider’s stock valued at $752,554,000 after purchasing an additional 6,621,125 shares during the period. Finally, State Street Corp raised its holdings in shares of Cisco Systems by 2.2% in the 1st quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock valued at $9,664,544,000 after purchasing an additional 4,061,022 shares during the period. 73.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CSCO shares. Piper Sandler upped their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Melius Research reiterated a “hold” rating and issued a $55.00 price target on shares of Cisco Systems in a research note on Monday, January 8th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Wells Fargo & Company started coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price target on the stock. Finally, Barclays increased their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Hold” and an average price target of $56.42.

Insider Transactions at Cisco Systems

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

Cisco Systems Trading Up 0.3 %

Shares of CSCO stock traded up $0.14 during trading hours on Thursday, hitting $49.91. 18,137,448 shares of the company’s stock traded hands, compared to its average volume of 19,930,795. The stock’s 50 day simple moving average is $49.77 and its 200 day simple moving average is $50.93. The stock has a market cap of $202.10 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 2.24 and a beta of 0.87. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 23.49% and a return on equity of 33.01%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 earnings per share. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.16 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.21%. Cisco Systems’s dividend payout ratio is 47.42%.

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.