Freedom Day Solutions LLC Sells 334 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Freedom Day Solutions LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 6,718 shares of the network equipment provider’s stock after selling 334 shares during the quarter. Freedom Day Solutions LLC’s holdings in Cisco Systems were worth $335,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CSCO. Valued Wealth Advisors LLC acquired a new stake in shares of Cisco Systems in the fourth quarter worth about $32,000. Delos Wealth Advisors LLC lifted its holdings in Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in Cisco Systems during the fourth quarter worth approximately $33,000. Morton Brown Family Wealth LLC grew its holdings in Cisco Systems by 41.9% during 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 during the last quarter. Finally, Bourgeon Capital Management LLC lifted its stake 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 worth $36,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded down $0.83 during midday trading on Thursday, hitting $46.60. 18,821,915 shares of the company were exchanged, compared to its average volume of 19,432,281. The firm has a 50 day simple moving average of $48.45 and a 200-day simple moving average of $49.37. Cisco Systems, Inc. has a 52 week low of $46.20 and a 52 week high of $58.19. The firm has a market cap of $188.69 billion, a P/E ratio of 15.69, a PEG ratio of 2.73 and a beta of 0.87. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82.

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

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,457 shares of company stock valued at $1,358,772. 0.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CSCO shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Morgan Stanley started coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price for the company. UBS Group lifted their price target on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Barclays increased their price objective on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. Finally, StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.47.

About Cisco Systems

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.