Exchange Traded Concepts LLC Sells 27,907 Shares of Cisco Systems, Inc. $CSCO

Exchange Traded Concepts LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 226,684 shares of the network equipment provider’s stock after selling 27,907 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Cisco Systems were worth $17,461,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Bare Financial Services Inc raised its stake in shares of Cisco Systems by 531.0% during the second quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock worth $25,000 after buying an additional 308 shares during the last quarter. Marquette Asset Management LLC bought a new position in Cisco Systems in the third quarter valued at approximately $25,000. Board of the Pension Protection Fund bought a new position in Cisco Systems in the fourth quarter valued at approximately $31,000. Lowe Wealth Advisors LLC grew its holdings in Cisco Systems by 96.2% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock worth $28,000 after acquiring an additional 200 shares during the period. Finally, Cedar Mountain Advisors LLC raised its position in shares of Cisco Systems by 115.7% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider’s stock valued at $32,000 after acquiring an additional 251 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jeetendra I. Patel sold 11,248 shares of the company’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $854,848.00. Following the completion of the transaction, the insider directly owned 262,776 shares of the company’s stock, valued at $19,970,976. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $79.50, for a total value of $634,489.50. Following the transaction, the executive vice president owned 187,097 shares of the company’s stock, valued at approximately $14,874,211.50. The trade was a 4.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 46,431 shares of company stock worth $3,574,820. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $79.92 on Friday. 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, Inc. has a 52 week low of $52.11 and a 52 week high of $88.18. The company’s 50 day moving average price is $78.97 and its two-hundred day moving average price is $75.30. The company has a market capitalization of $315.68 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 3.02 and a beta of 0.87.

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

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio (DPR) is currently 57.54%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CSCO. Wall Street Zen lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Morgan Stanley lifted their price objective on Cisco Systems from $82.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. Erste Group Bank lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Zacks Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Finally, DZ Bank upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.55.

Cisco Systems Company Profile

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.