Avantax Planning Partners Inc. Has $2.92 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Avantax Planning Partners Inc. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,737 shares of the network equipment provider’s stock after selling 1,192 shares during the period. Avantax Planning Partners Inc.’s holdings in Cisco Systems were worth $2,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Valued Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at about $32,000. Delos Wealth Advisors LLC lifted its holdings in shares of Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of Cisco Systems in the fourth quarter valued at about $33,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC lifted its holdings in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

Shares of CSCO stock traded down $0.83 during trading on Thursday, hitting $46.60. The company had a trading volume of 18,810,516 shares, compared to its average volume of 19,432,219. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The firm has a market capitalization of $188.69 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 2.73 and a beta of 0.87. The stock’s 50-day moving average price is $48.51 and its 200 day moving average price is $49.39. Cisco Systems, Inc. has a one year low of $46.20 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share. Equities analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is presently 53.87%.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the sale, the executive vice president now directly owns 180,705 shares in the company, valued at $8,717,209.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. Insiders sold 27,457 shares of company stock worth $1,358,772 over the last three months. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Piper Sandler restated a “neutral” rating and issued a $52.00 price target (up from $51.00) on shares of Cisco Systems in a report on Thursday, May 16th. Wells Fargo & Company upped their target price on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Oppenheimer upped their target price on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.47.

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 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.