Leisure Capital Management Sells 4,019 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Leisure Capital Management cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,572 shares of the network equipment provider’s stock after selling 4,019 shares during the quarter. Leisure Capital Management’s holdings in Cisco Systems were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Waddell & Associates LLC increased its holdings in shares of Cisco Systems by 0.8% during the third quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock valued at $1,328,000 after acquiring an additional 191 shares in the last quarter. Sax Wealth Advisors LLC increased its holdings in shares of Cisco Systems by 3.6% during the third quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock valued at $306,000 after acquiring an additional 196 shares in the last quarter. Winch Advisory Services LLC increased its holdings in shares of Cisco Systems by 19.3% during the third quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock valued at $66,000 after acquiring an additional 199 shares in the last quarter. Benin Management CORP increased its holdings in shares of Cisco Systems by 0.5% during the third quarter. Benin Management CORP now owns 37,543 shares of the network equipment provider’s stock valued at $2,018,000 after acquiring an additional 200 shares in the last quarter. Finally, Lodestone Wealth Management LLC increased its holdings in shares of Cisco Systems by 0.6% during the third quarter. Lodestone Wealth Management LLC now owns 36,587 shares of the network equipment provider’s stock valued at $1,967,000 after acquiring an additional 205 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

NASDAQ CSCO traded down $0.24 during mid-day trading on Friday, hitting $47.86. The stock had a trading volume of 14,658,910 shares, compared to its average volume of 16,851,638. The firm’s 50 day moving average is $48.94 and its 200 day moving average is $50.06. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The stock has a market capitalization of $193.79 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 2.78 and a beta of 0.87.

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

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.34%. Cisco Systems’s dividend payout ratio (DPR) is 48.63%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CSCO. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target on the stock. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Piper Sandler increased their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Barclays increased their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Finally, Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.53.

Insiders Place Their Bets

In other Cisco Systems news, 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 value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction dated 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 directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 sale, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 in the last three months. 0.02% of the stock is currently owned by insiders.

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.