Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Lessened by Resurgent Financial Advisors LLC

Resurgent Financial Advisors LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 20.4% during the third quarter, Holdings Channel.com reports. The fund owned 5,136 shares of the network equipment provider’s stock after selling 1,315 shares during the quarter. Resurgent Financial Advisors LLC’s holdings in Cisco Systems were worth $273,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Cisco Systems during the second quarter worth about $25,000. West Financial Advisors LLC increased its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares in the last quarter. Quarry LP increased its stake in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems in the 3rd quarter worth about $40,000. Finally, Hobbs Group Advisors LLC purchased a new position in Cisco Systems in the 2nd quarter worth about $36,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CSCO shares. UBS Group lifted their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Bank of America lifted their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Rosenblatt Securities raised their price objective on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, StockNews.com upgraded 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Cisco Systems Stock Up 0.7 %

CSCO opened at $60.02 on Friday. The business has a 50 day moving average price of $56.40 and a 200 day moving average price of $50.82. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm has a market cap of $239.05 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 4.43 and a beta of 0.85.

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

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 344,360 shares of company stock valued at $19,782,533 in the last three months. Company insiders own 0.01% of the company’s stock.

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.