Avidian Wealth Solutions LLC Lowers Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Avidian Wealth Solutions LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 22,873 shares of the network equipment provider’s stock after selling 1,698 shares during the period. Avidian Wealth Solutions LLC’s holdings in Cisco Systems were worth $1,156,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CSCO. Valued Wealth Advisors LLC purchased a new position in Cisco Systems in the fourth quarter valued at $32,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Cisco Systems in the 4th quarter valued at about $33,000. Morton Brown Family Wealth LLC raised 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 worth $36,000 after purchasing an additional 208 shares during the period. Bourgeon Capital Management LLC boosted its position in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 in the last three months. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CSCO. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $55.00 to $60.00 in a research report on Monday, April 15th. Wells Fargo & Company initiated coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 target price on the stock. Citigroup began coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price target for the company. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price objective on the stock. Finally, UBS Group increased their target price on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.53.

Cisco Systems Trading Up 0.7 %

NASDAQ CSCO traded up $0.33 during trading hours on Friday, reaching $47.12. The company had a trading volume of 17,935,302 shares, compared to its average volume of 17,219,910. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19. The stock has a market capitalization of $190.80 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 2.72 and a beta of 0.87. The stock has a 50-day moving average of $48.79 and a 200 day moving average of $49.77. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. During the same quarter last year, the company posted $0.76 EPS. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were paid a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.40%. Cisco Systems’s dividend payout ratio is presently 48.63%.

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.