Adero Partners LLC Has $385,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Adero Partners LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,236 shares of the network equipment provider’s stock after selling 1,453 shares during the period. Adero Partners LLC’s holdings in Cisco Systems were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. China Universal Asset Management Co. Ltd. grew its holdings in Cisco Systems by 226.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after buying an additional 18,339 shares in the last quarter. Covestor Ltd grew its holdings in shares of Cisco Systems by 43.0% during the 1st quarter. Covestor Ltd now owns 6,312 shares of the network equipment provider’s stock worth $315,000 after purchasing an additional 1,897 shares in the last quarter. Alley Investment Management Company LLC grew its holdings in shares of Cisco Systems by 0.3% during the 1st quarter. Alley Investment Management Company LLC now owns 101,003 shares of the network equipment provider’s stock worth $5,041,000 after purchasing an additional 300 shares in the last quarter. Davis R M Inc. grew its holdings in shares of Cisco Systems by 7.4% during the 1st quarter. Davis R M Inc. now owns 19,193 shares of the network equipment provider’s stock worth $958,000 after purchasing an additional 1,324 shares in the last quarter. Finally, Lcnb Corp grew its holdings in shares of Cisco Systems by 7.2% during the 1st quarter. Lcnb Corp now owns 18,358 shares of the network equipment provider’s stock worth $916,000 after purchasing an additional 1,226 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Shares of CSCO opened at $57.46 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.83. The company has a market capitalization of $229.31 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 4.76 and a beta of 0.83. The business has a 50-day moving average of $54.18 and a 200-day moving average of $49.78.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period last year, the company earned $1.01 earnings per share. The firm’s revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. The trade was a 5.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the sale, the chief financial officer now owns 293,184 shares of the company’s stock, valued at approximately $14,659,200. The trade was a 7.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,924 shares of company stock worth $1,798,131 over the last ninety days. 0.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CSCO shares. Jefferies Financial Group reduced their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Rosenblatt Securities raised their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Barclays raised their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.42.

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.