CreativeOne Wealth LLC Has $4.85 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

CreativeOne Wealth LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 28.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,172 shares of the network equipment provider’s stock after buying an additional 20,458 shares during the period. CreativeOne Wealth LLC’s holdings in Cisco Systems were worth $4,852,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Cisco Systems by 108.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,582,670 shares of the network equipment provider’s stock valued at $190,670,000 after purchasing an additional 1,865,730 shares in the last quarter. Insight Wealth Partners LLC boosted its stake in Cisco Systems by 6.7% in the third quarter. Insight Wealth Partners LLC now owns 17,801 shares of the network equipment provider’s stock valued at $947,000 after buying an additional 1,118 shares in the last quarter. Cadence Bank grew its position in Cisco Systems by 0.4% in the third quarter. Cadence Bank now owns 197,604 shares of the network equipment provider’s stock valued at $10,516,000 after acquiring an additional 828 shares during the last quarter. Shum Financial Group Inc. acquired a new position in Cisco Systems during the third quarter worth about $1,025,000. Finally, Principal Street Partners LLC boosted its stake in shares of Cisco Systems by 51.3% in the 3rd quarter. Principal Street Partners LLC now owns 13,704 shares of the network equipment provider’s stock valued at $677,000 after purchasing an additional 4,648 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CSCO. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Evercore ISI increased their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Tigress Financial boosted their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, Jefferies Financial Group reduced their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.94.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was 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 owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 339,479 shares of company stock worth $19,490,991. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $59.59 on Wednesday. The stock has a market capitalization of $237.33 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 4.38 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock’s 50 day moving average price is $55.35 and its two-hundred day moving average price is $50.32.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. Cisco Systems’s revenue was down 5.6% on a year-over-year basis. On average, equities analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

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.