Viawealth LLC Sells 300 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Viawealth LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,061 shares of the network equipment provider’s stock after selling 300 shares during the period. Viawealth LLC’s holdings in Cisco Systems were worth $868,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS boosted its holdings in Cisco Systems by 0.7% during the first quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider’s stock valued at $55,049,000 after acquiring an additional 6,501 shares during the period. Golden State Wealth Management LLC boosted its stake in Cisco Systems by 10.8% during the 1st quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider’s stock valued at $389,000 after purchasing an additional 612 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Cisco Systems by 28.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider’s stock valued at $249,180,000 after purchasing an additional 904,548 shares during the period. Investment Management Corp of Ontario boosted its stake in Cisco Systems by 44.6% during the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock valued at $11,454,000 after purchasing an additional 59,680 shares during the period. Finally, IFP Advisors Inc boosted its stake in Cisco Systems by 2.6% during the 1st quarter. IFP Advisors Inc now owns 111,510 shares of the network equipment provider’s stock valued at $6,882,000 after purchasing an additional 2,839 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Down 1.1%

Shares of NASDAQ CSCO opened at $67.92 on Tuesday. The stock has a market cap of $268.96 billion, a PE ratio of 27.72, a PEG ratio of 4.11 and a beta of 0.90. The business has a fifty day moving average of $66.51 and a two-hundred day moving average of $62.52. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. 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 (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $14.05 billion. During the same period last 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 expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

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

Insider Transactions at Cisco Systems

In related news, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction dated 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. The trade was a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the transaction, the insider directly owned 257,162 shares of the company’s stock, valued at $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CSCO. CICC Research began coverage on Cisco Systems in a research report on Monday, July 14th. They issued an “outperform” rating and a $78.00 price objective for the company. KeyCorp initiated coverage on shares of Cisco Systems in a report on Thursday, June 26th. They issued an “overweight” rating and a $77.00 price target for the company. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wolfe Research assumed coverage on shares of Cisco Systems in a research note on Tuesday, July 8th. They issued a “peer perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.35.

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.