Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Glen Eagle Advisors LLC

Glen Eagle Advisors LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.9% in the third quarter, Holdings Channel reports. The fund owned 11,379 shares of the network equipment provider’s stock after selling 584 shares during the period. Glen Eagle Advisors LLC’s holdings in Cisco Systems were worth $606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Lantz Financial LLC raised its position in Cisco Systems by 1.2% during the 2nd quarter. Lantz Financial LLC now owns 60,993 shares of the network equipment provider’s stock worth $2,898,000 after buying an additional 736 shares during the last quarter. Evanson Asset Management LLC raised its holdings in Cisco Systems by 0.6% during the second quarter. Evanson Asset Management LLC now owns 92,214 shares of the network equipment provider’s stock worth $4,381,000 after purchasing an additional 513 shares in the last quarter. Unison Advisors LLC raised its stake in shares of Cisco Systems by 0.8% during the 2nd quarter. Unison Advisors LLC now owns 65,063 shares of the network equipment provider’s stock worth $3,091,000 after buying an additional 512 shares in the last quarter. Compass Ion Advisors LLC lifted its holdings in shares of Cisco Systems by 4.3% in the 2nd quarter. Compass Ion Advisors LLC now owns 11,068 shares of the network equipment provider’s stock valued at $552,000 after buying an additional 454 shares during the period. Finally, Hurlow Wealth Management Group Inc. boosted its stake in shares of Cisco Systems by 8.1% in the second quarter. Hurlow Wealth Management Group Inc. now owns 5,691 shares of the network equipment provider’s stock valued at $270,000 after buying an additional 428 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $59.89 on Friday. The firm has a fifty day moving average of $56.40 and a 200-day moving average of $50.82. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.23. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $238.53 billion, a P/E ratio of 25.70, a PEG ratio of 4.44 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the sale, the director now owns 65,915 shares in the company, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 351,860 shares of company stock valued at $20,231,558. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CSCO shares. Jefferies Financial Group cut 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. Barclays increased their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, August 15th. Morgan Stanley raised their price target on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Ten equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.94.

Cisco Systems 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.