Eagle Global Advisors LLC Sells 5,304 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Eagle Global Advisors LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 204,503 shares of the network equipment provider’s stock after selling 5,304 shares during the quarter. Eagle Global Advisors LLC’s holdings in Cisco Systems were worth $10,331,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. WealthPlan Investment Management LLC purchased a new position in Cisco Systems in the 3rd quarter worth approximately $393,000. Lincoln National Corp lifted its holdings in Cisco Systems by 5.1% in the 3rd quarter. Lincoln National Corp now owns 96,922 shares of the network equipment provider’s stock worth $5,211,000 after purchasing an additional 4,700 shares in the last quarter. Kavar Capital Partners Group LLC lifted its holdings in Cisco Systems by 19.1% in the 3rd quarter. Kavar Capital Partners Group LLC now owns 5,365 shares of the network equipment provider’s stock worth $288,000 after purchasing an additional 860 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Cisco Systems by 2.0% in the 3rd quarter. Victory Capital Management Inc. now owns 7,647,702 shares of the network equipment provider’s stock worth $411,140,000 after purchasing an additional 152,408 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. lifted its holdings in Cisco Systems by 1.8% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 34,290 shares of the network equipment provider’s stock worth $1,843,000 after purchasing an additional 613 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Down 0.4 %

Shares of CSCO stock traded down $0.18 during mid-day trading on Friday, hitting $46.42. The stock had a trading volume of 11,934,560 shares, compared to its average volume of 19,358,230. Cisco Systems, Inc. has a 12-month low of $46.20 and a 12-month high of $58.19. The firm has a market capitalization of $187.02 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 2.76 and a beta of 0.87. The firm’s 50-day moving average is $48.45 and its two-hundred day moving average is $49.37. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share 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 period in the prior year, the business earned $0.88 EPS. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, analysts predict that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. started coverage on Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price objective (up previously from $51.00) on shares of Cisco Systems in a research note on Thursday, May 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, May 16th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.47.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Insiders sold 27,457 shares of company stock worth $1,358,772 in the last three months. 0.02% of the stock is owned by 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.