Wealthspire Advisors LLC Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Wealthspire Advisors LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,096 shares of the network equipment provider’s stock after selling 6,485 shares during the quarter. Wealthspire Advisors LLC’s holdings in Cisco Systems were worth $3,499,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Valued Wealth Advisors LLC purchased a new position in shares of Cisco Systems during the fourth quarter worth $32,000. Delos Wealth Advisors LLC lifted its holdings in shares of Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 600 shares during the period. DiNuzzo Private Wealth Inc. purchased a new position in Cisco Systems during the fourth quarter valued at approximately $33,000. Morton Brown Family Wealth LLC grew its position in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC grew its position in shares of Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several recent analyst reports. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Oppenheimer raised their target price on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research note on Monday, May 13th. Finally, JPMorgan Chase & Co. started coverage on Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective for the company. One equities research 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.47.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the transaction, the executive vice president now owns 176,384 shares in the company, valued at approximately $7,997,250.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now owns 176,384 shares in the company, valued at $7,997,250.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock valued at $1,908,923 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Up 1.3 %

Shares of Cisco Systems stock traded up $0.62 during trading hours on Friday, hitting $47.38. The company had a trading volume of 20,936,110 shares, compared to its average volume of 18,369,060. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19. The company has a market cap of $190.89 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 2.71 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The company’s 50-day moving average is $46.89 and its two-hundred day moving average is $48.58.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the company posted $0.88 EPS. The company’s quarterly revenue was down 12.8% on a year-over-year basis. Analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

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.