Sequoia Financial Advisors LLC Has $5.84 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Sequoia Financial Advisors LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 57.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,951 shares of the network equipment provider’s stock after selling 164,187 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cisco Systems were worth $5,841,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Cisco Systems by 1,096.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after purchasing an additional 2,663,676 shares during the period. Roble Belko & Company Inc grew its position in shares of Cisco Systems by 77.1% in the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after purchasing an additional 2,788 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Cisco Systems during the fourth quarter worth approximately $28,685,000. Thompson Siegel & Walmsley LLC lifted its holdings in Cisco Systems by 0.6% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock worth $13,683,000 after purchasing an additional 1,520 shares during the last quarter. Finally, Marcum Wealth LLC boosted its stake in Cisco Systems by 4.0% in the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after purchasing an additional 943 shares during the period. 73.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent research reports. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Wells Fargo & Company increased their price target on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Oppenheimer lifted their price objective on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Finally, BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Trading Up 0.7 %

NASDAQ CSCO traded up $0.31 during mid-day trading on Tuesday, reaching $45.17. 5,360,420 shares of the stock were exchanged, compared to its average volume of 19,548,809. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The stock has a market cap of $181.98 billion, a P/E ratio of 15.10, a P/E/G ratio of 2.97 and a beta of 0.85. The stock has a 50 day simple moving average of $46.67 and a 200-day simple moving average of $47.99. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter last year, the firm posted $0.88 earnings per share. The firm’s revenue was down 12.8% on a year-over-year basis. On average, analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.54%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Activity

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the transaction, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 transaction, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares in the company, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock worth $1,908,923 in the last three months. Company insiders own 0.02% of the company’s stock.

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.