Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Sequoia Financial Advisors LLC

by · The Markets Daily

Sequoia Financial Advisors LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,155 shares of the network equipment provider’s stock after selling 5,888 shares during the period. Sequoia Financial Advisors LLC’s holdings in Cisco Systems were worth $9,266,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. Navigoe LLC acquired a new position in shares of Cisco Systems during the fourth quarter valued at $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $26,000. JDM Financial Group LLC lifted its stake in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the fourth quarter worth approximately $30,000. Finally, Campbell Capital Management Inc. acquired a new position in Cisco Systems in the fourth quarter worth approximately $31,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Trading Up 1.1%

Shares of CSCO opened at $68.95 on Friday. The stock has a 50 day simple moving average of $62.31 and a 200-day simple moving average of $61.02. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock has a market cap of $273.04 billion, a PE ratio of 28.14, a PEG ratio of 4.08 and a beta of 0.88. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.25.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is 66.94%.

Analyst Ratings Changes

CSCO has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Piper Sandler boosted their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Finally, New Street Research restated a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $69.53.

Check Out Our Latest Stock Analysis on CSCO

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the company’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president now directly owns 174,669 shares of the company’s stock, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the sale, the senior vice president now owns 36,937 shares of the company’s stock, valued at $2,366,553.59. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 over the last three months. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Profile

(Free Report)

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.

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