RFG Advisory LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,440 shares of the network equipment provider’s stock after selling 6,602 shares during the period. RFG Advisory LLC’s holdings in Cisco Systems were worth $1,189,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of CSCO. Essex Investment Management Co. LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth $29,000. Horan Securities Inc. lifted its position in shares of Cisco Systems by 663.0% during the fourth quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock worth $33,000 after acquiring an additional 663 shares in the last quarter. Portfolio Solutions LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth $48,000. Contravisory Investment Management Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter worth $49,000. Finally, Highwater Wealth Management LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth $51,000. Institutional investors and hedge funds own 74.60% of the company’s stock.
Several research firms have issued reports on CSCO. JPMorgan Chase & Co. restated a “buy” rating on shares of Cisco Systems in a research report on Thursday, May 16th. Jefferies Financial Group increased their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. They noted that the move was a valuation call. BidaskClub downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday. MKM Partners increased their target price on Cisco Systems to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Finally, Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Tuesday, May 21st. Seven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and a consensus price target of $55.92.
Cisco Systems stock opened at $56.17 on Friday. The firm has a market capitalization of $239.12 billion, a PE ratio of 24.00, a PEG ratio of 2.85 and a beta of 1.21. Cisco Systems, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $57.56. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. The firm had revenue of $12.96 billion for the quarter, compared to analysts’ expectations of $12.89 billion. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 2.49%. Cisco Systems’s dividend payout ratio is presently 59.83%.
In other news, Director Wesley G. Bush bought 10,000 shares of Cisco Systems stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average price of $55.74 per share, with a total value of $557,400.00. Following the completion of the purchase, the director now directly owns 3,017 shares in the company, valued at $168,167.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark D. Chandler sold 1,379 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $55.94, for a total value of $77,141.26. The disclosure for this sale can be found here. In the last three months, insiders sold 75,129 shares of company stock worth $4,035,554. 0.03% of the stock is owned by insiders.
TRADEMARK VIOLATION NOTICE: This piece was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2019/06/14/cisco-systems-inc-nasdaqcsco-shares-sold-by-rfg-advisory-llc.html.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
See Also: What is the Gross Domestic Product (GDP)?
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.