PFG Advisors Sells 3,735 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

PFG Advisors trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 15.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,559 shares of the network equipment provider’s stock after selling 3,735 shares during the quarter. PFG Advisors’ holdings in Cisco Systems were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CSCO. Wealth Dimensions Group Ltd. lifted its position in Cisco Systems by 1.4% in the second quarter. Wealth Dimensions Group Ltd. now owns 13,401 shares of the network equipment provider’s stock worth $693,000 after purchasing an additional 188 shares during the period. Strong Tower Advisory Services lifted its position in Cisco Systems by 1.3% in the third quarter. Strong Tower Advisory Services now owns 14,831 shares of the network equipment provider’s stock worth $797,000 after purchasing an additional 190 shares during the period. Richard W. Paul & Associates LLC lifted its position in Cisco Systems by 0.9% in the third quarter. Richard W. Paul & Associates LLC now owns 20,996 shares of the network equipment provider’s stock worth $1,129,000 after purchasing an additional 191 shares during the period. Cassia Capital Partners LLC lifted its position in Cisco Systems by 1.4% in the third quarter. Cassia Capital Partners LLC now owns 13,950 shares of the network equipment provider’s stock worth $750,000 after purchasing an additional 191 shares during the period. Finally, Waddell & Associates LLC lifted its position in Cisco Systems by 0.8% in the third quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock worth $1,328,000 after purchasing an additional 191 shares during the period. 73.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Piper Sandler raised their target price on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. UBS Group increased their price objective on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Melius Research restated a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.42.

Check Out Our Latest Research Report on Cisco Systems

Cisco Systems Price Performance

Shares of CSCO opened at $49.91 on Monday. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 1 year low of $45.56 and a 1 year high of $58.19. The stock has a market cap of $202.10 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 2.26 and a beta of 0.87. The stock’s 50-day moving average price is $49.73 and its two-hundred day moving average price is $50.84.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter last year, the business earned $0.76 earnings per share. The company’s revenue was down 5.9% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post 3.16 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is 47.42%.

Insider Activity

In other news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock worth $972,080 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Company Profile

(Free Report)

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.

See Also

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

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