OneAscent Financial Services LLC Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

OneAscent Financial Services LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 15.0% during the third quarter, Holdings Channel.com reports. The firm owned 3,859 shares of the network equipment provider’s stock after selling 682 shares during the period. OneAscent Financial Services LLC’s holdings in Cisco Systems were worth $205,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Summit Securities Group LLC purchased a new position in shares of Cisco Systems in the 2nd quarter valued at $25,000. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the last quarter. Quarry LP raised its holdings in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Cisco Systems during the second quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in shares of Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after buying an additional 766 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 0.5 %

Cisco Systems stock opened at $57.01 on Wednesday. The business’s 50-day moving average price is $54.52 and its 200 day moving average price is $49.95. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $227.51 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 4.67 and a beta of 0.83. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter last year, the company earned $0.98 EPS. The business’s revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.81%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 58,188 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the transaction, the executive vice president now directly owns 219,100 shares of the company’s stock, valued at $12,596,059. This represents a 20.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 321,628 shares of company stock valued at $18,449,561 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, August 15th. Morgan Stanley raised their price objective on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Rosenblatt Securities increased their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Tigress Financial raised their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.94.

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.