TrinityPoint Wealth LLC reduced its stake in Cisco Systems, Inc. by 11.3% in the fourth quarter, selling 4,013 shares. The fund’s holdings were valued at $1,592,000 at the time of the SEC filing. Other large investors also made changes to their positions in Cisco Systems. Waddell & Associates LLC, Sax Wealth Advisors LLC, Hyman Charles D, Madrona Financial Services LLC, and Morton Brown Family Wealth LLC all increased their holdings in the company. Insiders at Cisco Systems, such as Deborah L. Stahlkopf and Maria Victoria Wong, have also been selling shares. The company’s stock opened at $46.42 on Monday, with a 52-week low of $46.20 and a high of $58.19.
Cisco Systems reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70. The company’s revenue for the quarter was $12.70 billion. Cisco Systems also announced a quarterly dividend of $0.40 per share, with a yield of 3.45%. Wall Street analysts have forecasted growth for Cisco Systems, with some raising their target prices for the stock. The company has a market capitalization of $187.02 billion, a P/E ratio of 15.63, and a beta of 0.87.
Cisco Systems, Inc. designs, manufactures, and sells Internet protocol-based networks and related products globally. The company’s product offerings include switching, routing, wireless, and computing portfolios.
In conclusion, Cisco Systems has seen changes in its investor landscape, with both large institutions and insiders making adjustments to their holdings. The company’s recent earnings report exceeded expectations, and Wall Street analysts predict growth for the company. Cisco Systems continues to be a key player in the information and communications technology industry.
Article Source
https://www.defenseworld.net/2024/05/27/trinitypoint-wealth-llc-lowers-stock-holdings-in-cisco-systems-inc-nasdaqcsco.html