Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Beaird Harris Wealth Management LLC

Beaird Harris Wealth Management LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 30.0% in the first quarter, HoldingsChannel.com reports. The fund owned 723 shares of the network equipment provider’s stock after selling 310 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Cisco Systems were worth $36,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSCO. Delos Wealth Advisors LLC grew its holdings in 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 during the period. DiNuzzo Private Wealth Inc. acquired a new position in Cisco Systems during the fourth quarter valued at approximately $33,000. Morton Brown Family Wealth LLC lifted its position 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 buying an additional 208 shares in the last quarter. Bourgeon Capital Management LLC lifted its position in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares in the last quarter. Finally, Retirement Group LLC lifted its position in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. In the last three months, insiders sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is owned by insiders.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded up $0.11 during trading on Monday, hitting $47.99. 11,228,033 shares of the stock were exchanged, compared to its average volume of 19,535,373. The stock’s fifty day moving average is $46.73 and its 200 day moving average is $48.35. The stock has a market cap of $193.34 billion, a PE ratio of 16.08, a P/E/G ratio of 2.77 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a 12 month low of $44.95 and a 12 month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $12.70 billion during 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%. Cisco Systems’s revenue was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were given a $0.40 dividend. The ex-dividend date was Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.33%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Oppenheimer lifted their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and an average 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.