Sheets Smith Wealth Management Sells 216 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sheets Smith Wealth Management lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,666 shares of the network equipment provider’s stock after selling 216 shares during the quarter. Sheets Smith Wealth Management’s holdings in Cisco Systems were worth $868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CSCO. Seven Eight Capital LP acquired a new position in shares of Cisco Systems during the second quarter valued at about $242,000. EverSource Wealth Advisors LLC raised its stake in Cisco Systems by 3.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 14,811 shares of the network equipment provider’s stock worth $718,000 after acquiring an additional 540 shares during the last quarter. Certified Advisory Corp lifted its position in Cisco Systems by 9.7% during the 2nd quarter. Certified Advisory Corp now owns 6,075 shares of the network equipment provider’s stock worth $289,000 after acquiring an additional 538 shares during the period. Public Sector Pension Investment Board grew its stake in Cisco Systems by 72.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 155,624 shares of the network equipment provider’s stock valued at $7,394,000 after purchasing an additional 65,124 shares during the last quarter. Finally, Providence Capital Advisors LLC increased its holdings in shares of Cisco Systems by 6.6% in the second quarter. Providence Capital Advisors LLC now owns 173,685 shares of the network equipment provider’s stock valued at $8,252,000 after purchasing an additional 10,817 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now owns 65,915 shares of the company’s stock, valued at $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.3 %

Shares of Cisco Systems stock opened at $61.03 on Wednesday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $61.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The stock has a market cap of $243.07 billion, a P/E ratio of 26.19, a P/E/G ratio of 4.48 and a beta of 0.84. The stock’s 50 day simple moving average is $58.94 and its 200-day simple moving average is $53.70.

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

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Tigress Financial lifted their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Citigroup increased their price target on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Bank of America upped their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.50.

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Cisco Systems Profile

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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.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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