Focused Wealth Management Inc Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Focused Wealth Management Inc lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,953 shares of the network equipment provider’s stock after selling 602 shares during the quarter. Focused Wealth Management Inc’s holdings in Cisco Systems were worth $614,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Glass Jacobson Investment Advisors llc grew its stake in shares of Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after buying an additional 166 shares in the last quarter. BlackDiamond Wealth Management LLC grew its stake in Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after purchasing an additional 168 shares in the last quarter. Legacy Financial Group Inc. grew its stake in Cisco Systems by 3.4% during the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after purchasing an additional 169 shares in the last quarter. Capital Advantage Inc. grew its stake in Cisco Systems by 1.0% during the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock worth $1,028,000 after purchasing an additional 172 shares in the last quarter. Finally, Lynx Investment Advisory grew its stake in Cisco Systems by 3.9% during the 4th quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider’s stock worth $272,000 after purchasing an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several analyst reports. KeyCorp initiated coverage on Cisco Systems in a research note on Thursday, June 26th. They set an “overweight” rating and a $77.00 target price for the company. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Wall Street Zen downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.53.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $67.95 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The stock’s 50-day moving average price is $65.02 and its 200 day moving average price is $61.81. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The stock has a market capitalization of $269.08 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

Insider Activity at Cisco Systems

In related news, EVP Oliver Tuszik sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the transaction, the executive vice president directly owned 131,676 shares of the company’s stock, valued at $8,365,376.28. This trade represents a 10.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the transaction, the chief financial officer directly owned 309,543 shares of the company’s stock, valued at $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 in the last three months. 0.01% of the stock is currently owned by corporate insiders.

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.