SNS Financial Group LLC Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

SNS Financial Group LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% in the first quarter, Holdings Channel.com reports. The firm owned 32,658 shares of the network equipment provider’s stock after selling 1,480 shares during the period. SNS Financial Group LLC’s holdings in Cisco Systems were worth $2,015,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC grew its position in shares of Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after buying an additional 24,562 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after buying an additional 2,474 shares during the period. Proficio Capital Partners LLC grew its position in shares of Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after buying an additional 7,338 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $1,037,000. Finally, HUB Investment Partners LLC grew its position in shares of Cisco Systems by 3.8% in the 4th quarter. HUB Investment Partners LLC now owns 45,982 shares of the network equipment provider’s stock worth $2,722,000 after buying an additional 1,680 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO traded down $0.25 during trading on Friday, reaching $68.05. 16,138,141 shares of the company traded hands, compared to its average volume of 20,295,616. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The firm has a fifty day simple moving average of $65.84 and a 200 day simple moving average of $62.09. The company has a market cap of $269.48 billion, a P/E ratio of 27.78, a PEG ratio of 4.09 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period last year, the firm posted $0.88 earnings per share. Cisco Systems’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid 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%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CSCO. KeyCorp initiated coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an “overweight” rating and a $77.00 price objective on the stock. Evercore ISI raised their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Wall Street Zen downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. Piper Sandler raised their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Finally, Morgan Stanley raised their price target on shares of Cisco Systems from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.35.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the sale, the senior vice president directly owned 36,937 shares in the company, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of Cisco Systems stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the sale, the executive vice president owned 177,027 shares of the company’s stock, valued at approximately $11,331,498.27. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by company insiders.

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.