Cisco Systems, Inc. $CSCO Holdings Decreased by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 47.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,608 shares of the network equipment provider’s stock after selling 81,586 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in Cisco Systems were worth $6,268,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its position in Cisco Systems by 1.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 420,336 shares of the network equipment provider’s stock worth $29,163,000 after purchasing an additional 4,525 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cisco Systems by 6.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider’s stock worth $218,236,000 after buying an additional 205,043 shares in the last quarter. Greystone Financial Group LLC acquired a new stake in Cisco Systems in the 3rd quarter valued at approximately $8,563,000. Jones Financial Companies Lllp increased its position in Cisco Systems by 8.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock valued at $46,165,000 after acquiring an additional 56,057 shares during the period. Finally, Rockland Trust Co. raised its stake in Cisco Systems by 213.8% during the 3rd quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock valued at $1,402,000 after acquiring an additional 13,966 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 2,179 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $77.74, for a total value of $169,395.46. Following the completion of the transaction, the senior vice president owned 28,807 shares of the company’s stock, valued at approximately $2,239,456.18. This trade represents a 7.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 19,545 shares of Cisco Systems stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $1,485,420.00. Following the transaction, the chief executive officer owned 671,095 shares in the company, valued at approximately $51,003,220. The trade was a 2.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 75,677 shares of company stock valued at $5,811,211. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on Cisco Systems from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Citigroup boosted their price target on shares of Cisco Systems from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Citic Securities upped their price target on shares of Cisco Systems from $75.00 to $90.00 in a research note on Monday, November 17th. HSBC raised their price objective on shares of Cisco Systems from $74.00 to $77.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Finally, Bank of America upped their target price on Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $89.55.

Cisco Systems Trading Down 0.6%

Cisco Systems stock opened at $78.96 on Wednesday. The firm has a market cap of $311.88 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 3.00 and a beta of 0.87. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $88.18. The firm’s 50 day moving average price is $77.86 and its two-hundred day moving average price is $73.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. The business had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The company’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $0.94 EPS. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, April 2nd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio is presently 57.54%.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.