A recent Form 13F filing with the Securities and Exchange Commission (SEC) reveals that Darwin Wealth Management LLC has increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 26.1% during the second quarter of this year. The institutional investor now owns 64,147 shares of the network equipment provider’s stock, after acquiring an additional 13,273 shares during the period. These holdings are valued at $3,343,000 as of their most recent filing with the SEC.
Cisco Systems released its quarterly earnings results on August 16th, reporting earnings per share of $1.14 for the quarter. This surpassed the consensus estimate of $1.06 by $0.08. The company also generated revenue of $15.20 billion during this period, exceeding the projected estimate of $15.05 billion. Cisco Systems demonstrated a return on equity of 33.42% and a net margin of 22.13%. In comparison to the same quarter last year, its revenue increased by 16.0%.
Analyst reports have been recently published regarding Cisco Systems’ performance in the market. One such report from UBS Group raised their price objective for Cisco Systems from $51.00 to $55.00 and gave it a “neutral” rating in their research report published on August 17th.
Similarly, Bank of America also raised their price target for Cisco Systems from $56.00 to $60.00 and rated it as “neutral” in their research note on September 13th.
On August 17th, Raymond James upped their price objective on Cisco System’s stock from $64.00 to $65.00 and assigned it an “outperform” rating.
Barclays also commented on Cisco System’s performance in a research note that day by raising its target price from $51.00 to $53 and assigning it an “equal-weight” rating.
Finally, StockNews.com published a research note on August 17th, initiating coverage on Cisco Systems and gave it a “buy” rating.
Overall, according to data obtained from Bloomberg.com, Cisco Systems currently holds a consensus rating of “Hold” with analysts. The stock has received one sell rating, ten hold ratings, and eleven buy ratings. The average target price for the company is $59.43.
These recent developments reflect the growth in Darwin Wealth Management LLC’s holdings in Cisco Systems and positive earnings results for the company. Analyst reports show a mix of ratings and price targets for the stock. Investors will be closely monitoring future updates from Cisco Systems to assess its performance in the market moving forward.
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Large Investors Make Moves in Cisco Systems: Implications and Analysis
Concerns Rise as Large Investors Adjust Holdings in Cisco Systems
The financial landscape can be a perplexing space, with numerous variables and factors influencing investment decisions. Recently, several major investors have made adjustments to their holdings in Cisco Systems, a well-known network equipment provider. Such changes in ownership undoubtedly raise eyebrows, prompting questions about the potential implications for the company and its stock value.
FSM Wealth Advisors LLC stands out among these investors, as they boosted their holdings in Cisco Systems by 7.6% during the second quarter of this year. This move resulted in FSM Wealth Advisors now owning 14,932 shares of the company’s stock, which are valued at $778,000. This increase came after their purchase of an additional 1,052 shares during that period. First Bank & Trust also sought to solidify its position by acquiring an extra 2,087 shares of Cisco Systems’ stock in the second quarter. As a result, they now possess 44,256 shares valued at $2.29 million.
Sunburst Financial Group LLC and Juncture Wealth Strategies LLC also hopped on board with increased holdings in Cisco Systems during the same period. Sunburst Financial Group saw their holdings grow by 3.4%, reaching a total of 11,893 shares worth $615,000. Meanwhile, Juncture Wealth Strategies elevated their stake by 1.5%, equating to 19,743 shares valued at $1.02 million.
Ullmann Wealth Partners Group LLC chose to join this trend as well and lifted their stake in Cisco Systems by an impressive 12%, accumulating a total of 4,532 shares with an approximate worth of $234,000.
It’s important to note that hedge funds and other institutional investors collectively own around 72.21% of Cisco Systems’ stock. Their significant presence further exemplifies the intrigue surrounding these new developments within the company.
As we delve deeper into the intricacies of Cisco Systems’ recent activity, we come across CFO Richard Scott Herren, who sold 2,579 shares on June 22nd. With an average transaction price of $50.65, this sale amounted to a total value of $130,626.35. Post-transaction, Herren is left with 281,493 shares in the company’s possession, valued at $14,257,620.45.
Additionally, CEO Charles Robbins made a noteworthy move by selling 17,687 shares on August 18th at an average price of $55.16 per share. This translated to a total value of $975,614.92. Following this sale, Robbins retains 716,191 shares in Cisco Systems, amounting to an estimated worth of $39,505,095.56.
It is worth mentioning that over the previous three months leading up to our reference date of September 19th, insiders within the company have sold approximately 54,438 shares at a combined value of $2.95 million. These sell-offs controlled by company insiders represent just 0.02% of Cisco Systems’ stock ownership.
Examining Cisco Systems’ current stock performance provides further insight into these developments and their potential impact moving forward. On Tuesday’s market opening on September 19th this year saw the stock open at $56.11 per share. The company’s 50-day moving average stands at $54.20 with the two-hundred-day moving average recorded as $51.17.
Over the past twelve months leading up to our reference date in September 2023, Cisco Systems has seen its lowest price dip to $38.60 while reaching its highest point at $58.19 per share during that same period.
The corporation currently boasts a market capitalization marked at an impressive $227 billion and holds a price-to-earnings ratio standing at about 18.28. When considering the company’s growth prospects, the price-to-earnings growth ratio comes in at 2.48. Moreover, Cisco Systems possesses a beta value of 0.97.
Analyzing key financial indicators provides further context to Cisco Systems’ current status. With a current ratio of 1.38 and a quick ratio of 1.27, the company showcases its ability to meet short-term obligations promptly. Furthermore, its debt-to-equity ratio sits comfortably at 0.15.
As investors and analysts continue to digest these intriguing developments regarding large investors adjusting their holdings in Cisco Systems, it remains to be seen how these shifts will affect the company’s future trajectory and stock performance.
Disclaimer: This article serves as an informative analysis of recent events concerning Cisco Systems and its stock holdings, based on public information available on September 19th, 2023. The views and opinions expressed in this article do not represent financial advice or endorsement of any investment decisions. It is advised to consult with a qualified financial advisor before making any investment choices.
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