Lloyd Advisory Services LLC. Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Markets Daily

Lloyd Advisory Services LLC. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 6.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,273 shares of the network equipment provider’s stock after selling 339 shares during the period. Lloyd Advisory Services LLC.’s holdings in Cisco Systems were worth $281,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the second quarter worth about $25,000. Quarry LP lifted its holdings in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the period. West Financial Advisors LLC lifted its holdings in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the period. Retirement Group LLC lifted its holdings in shares of Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems during the second quarter worth about $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the sale, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 in the last three months. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Stock Up 1.3 %

Shares of NASDAQ:CSCO opened at $54.25 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $50.14 and a two-hundred day moving average of $48.40. The stock has a market cap of $216.50 billion, a P/E ratio of 21.36, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $54.58.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.95%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 62.99%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of research reports. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, August 15th. Evercore ISI lifted their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems has an average rating of “Hold” and an average price target of $55.00.

Read Our Latest Analysis on Cisco Systems

Cisco Systems Profile

(Free Report)

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.

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