SVA Wealth Management LLC Sells 7,470 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

SVA Wealth Management LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 165,915 shares of the network equipment provider’s stock after selling 7,470 shares during the quarter. Cisco Systems comprises 0.9% of SVA Wealth Management LLC’s portfolio, making the stock its 21st biggest holding. SVA Wealth Management LLC’s holdings in Cisco Systems were worth $9,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Tranquility Partners LLC bought a new position in shares of Cisco Systems in the second quarter worth about $217,000. Laurel Wealth Advisors Inc. increased its stake in shares of Cisco Systems by 0.5% in the second quarter. Laurel Wealth Advisors Inc. now owns 97,207 shares of the network equipment provider’s stock worth $5,320,000 after purchasing an additional 468 shares during the period. Pinnacle Holdings LLC increased its stake in shares of Cisco Systems by 1.0% in the second quarter. Pinnacle Holdings LLC now owns 19,758 shares of the network equipment provider’s stock worth $1,081,000 after purchasing an additional 201 shares during the period. Qtron Investments LLC increased its stake in shares of Cisco Systems by 42.6% in the second quarter. Qtron Investments LLC now owns 24,484 shares of the network equipment provider’s stock worth $1,340,000 after purchasing an additional 7,319 shares during the period. Finally, Intrepid Capital Management Inc. increased its stake in shares of Cisco Systems by 1.4% in the second quarter. Intrepid Capital Management Inc. now owns 64,914 shares of the network equipment provider’s stock worth $3,553,000 after purchasing an additional 875 shares during the period. Institutional investors own 72.89% of the company’s stock.

In other news, EVP Mark D. Chandler sold 546 shares of Cisco Systems stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $47.92, for a total value of $26,164.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total transaction of $3,270,400.00. Following the completion of the transaction, the chief financial officer now owns 277,548 shares of the company’s stock, valued at approximately $12,967,042.56. The disclosure for this sale can be found here. Insiders have sold 100,234 shares of company stock worth $4,782,259 over the last ninety days. Company insiders own 0.03% of the company’s stock.

NASDAQ CSCO traded up $0.10 during trading on Friday, reaching $50.03. 11,615,991 shares of the company traded hands, compared to its average volume of 17,791,938. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51. The stock’s 50 day moving average price is $50.30 and its two-hundred day moving average price is $53.70. The company has a market cap of $211.97 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 2.33 and a beta of 1.26. Cisco Systems, Inc. has a 1-year low of $40.25 and a 1-year high of $58.26.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $13.43 billion for the quarter, compared to the consensus estimate of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. Equities research analysts expect that Cisco Systems, Inc. will post 3.06 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on the company. Cowen decreased their target price on Cisco Systems from $65.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. Bank of America reissued a “buy” rating and set a $62.00 target price on shares of Cisco Systems in a research report on Wednesday, July 10th. KeyCorp decreased their target price on Cisco Systems from $60.00 to $56.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Nomura lifted their target price on Cisco Systems from $50.00 to $53.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Robert W. Baird reissued a “buy” rating and set a $57.00 target price on shares of Cisco Systems in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the company. Cisco Systems has an average rating of “Buy” and a consensus price target of $56.72.

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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