Wealth Advisors of Tampa Bay LLC Decreases Stake in Cisco Systems, Inc. (CSCO)

Wealth Advisors of Tampa Bay LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,414 shares of the network equipment provider’s stock after selling 6,247 shares during the period. Cisco Systems makes up 2.8% of Wealth Advisors of Tampa Bay LLC’s holdings, making the stock its 13th biggest position. Wealth Advisors of Tampa Bay LLC’s holdings in Cisco Systems were worth $3,951,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Morgan Stanley raised its stake in Cisco Systems by 15.9% during the second quarter. Morgan Stanley now owns 50,957,358 shares of the network equipment provider’s stock worth $2,192,694,000 after purchasing an additional 7,009,359 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new position in Cisco Systems during the second quarter worth about $279,790,000. Putnam Investments LLC raised its stake in Cisco Systems by 44.9% during the second quarter. Putnam Investments LLC now owns 7,610,821 shares of the network equipment provider’s stock worth $327,494,000 after purchasing an additional 2,359,159 shares during the period. Fisher Asset Management LLC raised its stake in Cisco Systems by 11.9% during the third quarter. Fisher Asset Management LLC now owns 20,099,819 shares of the network equipment provider’s stock worth $977,856,000 after purchasing an additional 2,129,952 shares during the period. Finally, Royal London Asset Management Ltd. purchased a new position in Cisco Systems during the second quarter worth about $90,333,000. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CSCO opened at $43.49 on Monday. Cisco Systems, Inc. has a 1-year low of $37.35 and a 1-year high of $49.47. The stock has a market cap of $208.69 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 2.54 and a beta of 1.15. The company has a quick ratio of 2.05, a current ratio of 2.11 and a debt-to-equity ratio of 0.42.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the business earned $0.61 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts predict that Cisco Systems, Inc. will post 2.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Friday, January 4th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Thursday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 56.41%.

CSCO has been the topic of a number of analyst reports. KeyCorp lifted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, November 15th. Zacks Investment Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Thursday, November 15th. Nomura downgraded shares of Cisco Systems from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research note on Friday, December 14th. Finally, Credit Suisse Group lifted their target price on shares of Cisco Systems from $43.00 to $44.00 and gave the stock a “hold” rating in a research note on Thursday, November 15th. Eight investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $51.05.

In related news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $47.44, for a total value of $3,320,800.00. Following the completion of the transaction, the chief financial officer now owns 492,301 shares in the company, valued at $23,354,759.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prat Bhatt sold 33,950 shares of Cisco Systems stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $44.86, for a total transaction of $1,522,997.00. Following the completion of the transaction, the senior vice president now owns 90,207 shares of the company’s stock, valued at approximately $4,046,686.02. The disclosure for this sale can be found here. Insiders sold 166,067 shares of company stock valued at $7,804,662 in the last 90 days. Company insiders own 0.03% of the company’s stock.

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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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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