Fountainhead AM LLC Sells 20,733 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fountainhead AM LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 69.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,232 shares of the network equipment provider’s stock after selling 20,733 shares during the period. Fountainhead AM LLC’s holdings in Cisco Systems were worth $466,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CSCO. Cassia Capital Partners LLC boosted its stake in Cisco Systems by 1.4% during the third quarter. Cassia Capital Partners LLC now owns 13,950 shares of the network equipment provider’s stock worth $750,000 after buying an additional 191 shares during the period. Palumbo Wealth Management LLC boosted its stake in Cisco Systems by 81.6% during the third quarter. Palumbo Wealth Management LLC now owns 9,521 shares of the network equipment provider’s stock worth $512,000 after buying an additional 4,279 shares during the period. LexAurum Advisors LLC boosted its stake in Cisco Systems by 40.8% during the third quarter. LexAurum Advisors LLC now owns 16,413 shares of the network equipment provider’s stock worth $882,000 after buying an additional 4,756 shares during the period. LMG Wealth Partners LLC boosted its stake in Cisco Systems by 7.5% during the third quarter. LMG Wealth Partners LLC now owns 29,168 shares of the network equipment provider’s stock worth $1,568,000 after buying an additional 2,044 shares during the period. Finally, Enterprise Bank & Trust Co boosted its stake in Cisco Systems by 16.3% during the third quarter. Enterprise Bank & Trust Co now owns 4,924 shares of the network equipment provider’s stock worth $265,000 after buying an additional 690 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,441 shares of company stock worth $972,080. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Up 0.4 %

Shares of CSCO traded up $0.18 during mid-day trading on Tuesday, hitting $48.32. 16,239,196 shares of the company traded hands, compared to its average volume of 19,471,814. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year 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. The company has a market capitalization of $195.66 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 2.77 and a beta of 0.87. The business has a 50 day moving average of $49.01 and a 200 day moving average of $50.13.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.31%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is currently 48.63%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler boosted their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Morgan Stanley assumed coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price for the company. Wells Fargo & Company assumed coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price for the company. Finally, Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $55.53.

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.