Horizon Wealth Management LLC Has $230,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Horizon Wealth Management LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 39.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,602 shares of the network equipment provider’s stock after selling 3,053 shares during the period. Horizon Wealth Management LLC’s holdings in Cisco Systems were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CSCO. Valued Wealth Advisors LLC acquired a new stake in Cisco Systems during the 4th quarter worth approximately $32,000. Delos Wealth Advisors LLC boosted its position in Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after buying an additional 600 shares during the period. DiNuzzo Private Wealth Inc. acquired a new stake in Cisco Systems during the 4th quarter worth approximately $33,000. Morton Brown Family Wealth LLC boosted its position in Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC boosted its position in Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Price Performance

CSCO traded up $0.09 on Monday, hitting $47.60. 8,764,271 shares of the company’s stock traded hands, compared to its average volume of 19,676,133. The company’s 50 day simple moving average is $47.06 and its 200-day simple moving average is $48.78. The firm has a market cap of $191.77 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 2.75 and a beta of 0.85. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the prior year, the firm posted $0.88 EPS. Cisco Systems’s quarterly revenue was down 12.8% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.36%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Activity

In other news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares in the company, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock worth $1,908,923 over the last three months. 0.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Citigroup started coverage on shares of Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective on the stock. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Piper Sandler reiterated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $56.47.

Cisco Systems Company 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.