Aviance Capital Partners LLC Reduces Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Aviance Capital Partners LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 76,837 shares of the network equipment provider’s stock after selling 4,179 shares during the period. Aviance Capital Partners LLC’s holdings in Cisco Systems were worth $3,882,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Cisco Systems by 6.0% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 258,127 shares of the network equipment provider’s stock worth $13,041,000 after purchasing an additional 14,568 shares in the last quarter. Apollon Wealth Management LLC raised its position in shares of Cisco Systems by 36.5% during the 4th quarter. Apollon Wealth Management LLC now owns 157,210 shares of the network equipment provider’s stock worth $7,942,000 after purchasing an additional 42,045 shares during the last quarter. Lincoln National Corp boosted its holdings in Cisco Systems by 12.1% in the 4th quarter. Lincoln National Corp now owns 108,602 shares of the network equipment provider’s stock worth $5,487,000 after buying an additional 11,680 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in Cisco Systems during the 4th quarter worth approximately $329,000. Finally, Highlander Partners L.P. raised its holdings in shares of Cisco Systems by 44.4% during the fourth quarter. Highlander Partners L.P. now owns 65,000 shares of the network equipment provider’s stock valued at $3,284,000 after acquiring an additional 20,000 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 0.0 %

NASDAQ CSCO traded down $0.01 during trading hours on Monday, hitting $47.11. 14,161,773 shares of the company were exchanged, compared to its average volume of 19,119,422. The company has a 50 day moving average of $48.77 and a two-hundred day moving average of $49.73. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The firm has a market cap of $190.76 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 2.72 and a beta of 0.87. Cisco Systems, Inc. has a 52-week low of $45.70 and a 52-week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter last year, the company earned $0.76 earnings per share. The firm’s revenue was down 5.9% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were paid a $0.40 dividend. The ex-dividend date was Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.40%. Cisco Systems’s dividend payout ratio (DPR) is currently 48.63%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Piper Sandler lifted their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Melius Research reissued a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research report on Monday, January 8th. Barclays raised their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price on the stock. Finally, Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.53.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 in the last ninety days. Insiders own 0.02% 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.