WealthPLAN Partners LLC Sells 2,346 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

WealthPLAN Partners LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 31.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,039 shares of the network equipment provider’s stock after selling 2,346 shares during the period. WealthPLAN Partners LLC’s holdings in Cisco Systems were worth $239,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter valued at about $25,000. Retirement Group LLC raised its position in Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 263 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Cisco Systems in the 2nd quarter valued at approximately $36,000. Tidemark LLC acquired a new position in Cisco Systems during the 4th quarter worth approximately $41,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Cisco Systems during the 1st quarter worth approximately $41,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Rosenblatt Securities raised their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Barclays dropped their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.89.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at $6,821,929.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $50.61 on Wednesday. The stock has a 50 day simple moving average of $48.25 and a 200 day simple moving average of $47.99. The stock has a market cap of $203.90 billion, a P/E ratio of 17.04, a PEG ratio of 3.87 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $56.28. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. Research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.16%. Cisco Systems’s dividend payout ratio is presently 53.87%.

About Cisco Systems

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.