Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Paces Ferry Wealth Advisors LLC

Paces Ferry Wealth Advisors LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,247 shares of the network equipment provider’s stock after selling 259 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in Cisco Systems were worth $249,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Cisco Systems by 1,096.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after purchasing an additional 2,663,676 shares during the period. Marcum Wealth LLC boosted its holdings in shares of Cisco Systems by 4.0% during the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after acquiring an additional 943 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after acquiring an additional 51,924 shares during the period. Inscription Capital LLC boosted its holdings in shares of Cisco Systems by 49.4% during the first quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after acquiring an additional 15,198 shares during the period. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Cisco Systems during the fourth quarter valued at $117,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $50.57 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $48.33 and its two-hundred day moving average price is $48.01. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $56.21. The stock has a market cap of $203.74 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

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

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. Company insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of several analyst reports. Jefferies Financial Group reduced their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Finally, StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $55.89.

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.