Syntegra Private Wealth Group LLC Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Markets Daily

Syntegra Private Wealth Group LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,871 shares of the network equipment provider’s stock after selling 413 shares during the quarter. Syntegra Private Wealth Group LLC’s holdings in Cisco Systems were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Piper Sandler restated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. Evercore ISI increased their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Tigress Financial increased their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.74.

Get Our Latest Stock Report on Cisco Systems

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Down 0.3 %

NASDAQ CSCO traded down $0.16 during trading on Wednesday, reaching $56.44. 2,136,234 shares of the company’s stock traded hands, compared to its average volume of 19,053,105. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The firm has a market cap of $227.39 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The company’s 50 day simple moving average is $51.63 and its two-hundred day simple moving average is $48.71. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

About Cisco Systems

(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.

Further Reading

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