Sovereign Financial Group Inc. Has $599,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Sovereign Financial Group Inc. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,127 shares of the network equipment provider’s stock after selling 553 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Cisco Systems were worth $599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its holdings in shares of Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP boosted its position in Cisco Systems by 327.5% during the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after buying an additional 5,223,800 shares during the period. Pathway Financial Advisers LLC grew its holdings in Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after acquiring an additional 4,842,542 shares during the last quarter. National Bank of Canada FI increased its position in Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after acquiring an additional 3,975,028 shares during the period. Finally, State Street Corp raised its stake in shares of Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after acquiring an additional 3,241,682 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent research reports. Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Bank of America increased their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Citigroup upped their target price on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Barclays raised their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.28.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $59.33 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $58.79 and its 200-day moving average price is $53.34. The firm has a market capitalization of $236.30 billion, a P/E ratio of 25.46, a P/E/G ratio of 4.37 and a beta of 0.85. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.23.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 4,881 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the completion of the sale, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% 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.