Kingswood Wealth Advisors LLC Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Kingswood Wealth Advisors LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,110 shares of the network equipment provider’s stock after selling 5,423 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Cisco Systems were worth $2,001,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its position in Cisco Systems by 0.3% during the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after buying an additional 202 shares in the last quarter. Hyman Charles D lifted its holdings in shares of Cisco Systems by 0.3% during the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock valued at $3,573,000 after acquiring an additional 203 shares in the last quarter. Madrona Financial Services LLC boosted its position in Cisco Systems by 2.4% during the 4th quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock worth $453,000 after purchasing an additional 207 shares during the period. Morton Brown Family Wealth LLC increased its holdings in Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares in the last quarter. Finally, Baker Boyer National Bank raised its position in Cisco Systems by 2.6% in the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO traded down $0.04 on Wednesday, hitting $45.12. 17,790,736 shares of the company’s stock were exchanged, compared to its average volume of 19,631,246. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average of $46.75 and a two-hundred day moving average of $48.17. Cisco Systems, Inc. has a twelve month low of $44.64 and a twelve month high of $58.19. The firm has a market cap of $181.78 billion, a PE ratio of 15.21, a P/E/G ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the prior year, the firm earned $0.88 EPS. The business’s quarterly revenue was down 12.8% on a year-over-year basis. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.55%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CSCO. Barclays upped their target price on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price on the stock. Morgan Stanley assumed coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective on the stock. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $60.00 in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.47.

Insider Transactions at Cisco Systems

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

Cisco Systems Company 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.