Apexium Financial LP Sells 999 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Apexium Financial LP decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,533 shares of the network equipment provider’s stock after selling 999 shares during the quarter. Apexium Financial LP’s holdings in Cisco Systems were worth $801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the company. SkyView Investment Advisors LLC grew its stake in shares of Cisco Systems by 13.8% during the second quarter. SkyView Investment Advisors LLC now owns 9,748 shares of the network equipment provider’s stock worth $463,000 after buying an additional 1,179 shares during the last quarter. Bontempo Ohly Capital Mgmt LLC increased its holdings in Cisco Systems by 2.0% in the second quarter. Bontempo Ohly Capital Mgmt LLC now owns 78,353 shares of the network equipment provider’s stock valued at $3,723,000 after purchasing an additional 1,566 shares during the period. Aviso Wealth Management raised its position in Cisco Systems by 18.5% during the 2nd quarter. Aviso Wealth Management now owns 7,434 shares of the network equipment provider’s stock worth $353,000 after purchasing an additional 1,162 shares during the last quarter. Buck Wealth Strategies LLC grew its position in shares of Cisco Systems by 5.6% in the 2nd quarter. Buck Wealth Strategies LLC now owns 170,121 shares of the network equipment provider’s stock valued at $8,082,000 after buying an additional 9,095 shares during the last quarter. Finally, Copperwynd Financial LLC raised its position in shares of Cisco Systems by 12.6% during the second quarter. Copperwynd Financial LLC now owns 17,164 shares of the network equipment provider’s stock worth $832,000 after acquiring an additional 1,921 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $62.23 on Monday. 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 stock has a fifty day simple moving average of $59.22 and a two-hundred day simple moving average of $54.09. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $62.31. The stock has a market capitalization of $247.85 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 4.59 and a beta of 0.84.

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

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 over the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on CSCO. Wells Fargo & Company upped their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report 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 boosted their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. Morgan Stanley increased their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Bank of America upped their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Eight 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.50.

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.