Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Optimum Investment Advisors

Optimum Investment Advisors cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 85,600 shares of the network equipment provider’s stock after selling 1,425 shares during the quarter. Cisco Systems comprises about 1.2% of Optimum Investment Advisors’ investment portfolio, making the stock its 15th biggest holding. Optimum Investment Advisors’ holdings in Cisco Systems were worth $4,105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cordasco Financial Network grew its stake in Cisco Systems by 78.4% in the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock worth $56,000 after purchasing an additional 502 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Cisco Systems by 21.1% in the third quarter. Candriam Luxembourg S.C.A. now owns 1,483,927 shares of the network equipment provider’s stock valued at $75,000 after purchasing an additional 258,073 shares during the period. Larson Financial Group LLC grew its position in Cisco Systems by 408.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,561 shares of the network equipment provider’s stock valued at $77,000 after buying an additional 1,254 shares in the last quarter. Phocas Financial Corp. acquired a new stake in shares of Cisco Systems in the second quarter valued at $82,000. Finally, Ellevest Inc. lifted its position in shares of Cisco Systems by 32.3% during the 2nd quarter. Ellevest Inc. now owns 1,810 shares of the network equipment provider’s stock valued at $99,000 after acquiring an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 72.62% of the company’s stock.

In other news, CEO Charles Robbins sold 208,084 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $44.83, for a total value of $9,328,405.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Irving Tan sold 10,733 shares of Cisco Systems stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $44.81, for a total value of $480,945.73. Following the completion of the transaction, the executive vice president now owns 172,199 shares of the company’s stock, valued at approximately $7,716,237.19. The disclosure for this sale can be found here. Insiders have sold 388,864 shares of company stock valued at $17,474,321 in the last three months. 0.03% of the stock is owned by insiders.

Several research analysts have weighed in on the company. Evercore ISI reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Sunday, December 15th. Zacks Investment Research raised Cisco Systems from a “sell” rating to a “hold” rating and set a $50.00 price objective on the stock in a report on Wednesday, January 15th. KeyCorp increased their price objective on Cisco Systems from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays raised Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a research note on Thursday, December 19th. Finally, Edward Jones upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Thirteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $54.78.

Shares of Cisco Systems stock opened at $49.06 on Thursday. The company has a market capitalization of $207.02 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 2.83 and a beta of 1.23. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.64. The business has a 50-day moving average of $47.00 and a two-hundred day moving average of $48.92. Cisco Systems, Inc. has a 1 year low of $43.40 and a 1 year high of $58.26.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.03. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The business had revenue of $13.16 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same period in the previous year, the firm earned $0.75 EPS. Cisco Systems’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems, Inc. will post 2.94 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Thursday, January 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.

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 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.

Recommended Story: Why do earnings reports matter?

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit