Sigma Planning Corp Sells 40,162 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sigma Planning Corp reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 62.2% in the fourth quarter, HoldingsChannel reports. The firm owned 24,365 shares of the network equipment provider’s stock after selling 40,162 shares during the period. Sigma Planning Corp’s holdings in Cisco Systems were worth $1,231,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Cassia Capital Partners LLC increased its position in Cisco Systems by 1.4% during the 3rd quarter. Cassia Capital Partners LLC now owns 13,950 shares of the network equipment provider’s stock valued at $750,000 after buying an additional 191 shares in the last quarter. Waddell & Associates LLC increased its position in Cisco Systems by 0.8% during the 3rd quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock valued at $1,328,000 after buying an additional 191 shares in the last quarter. Sax Wealth Advisors LLC increased its position in Cisco Systems by 3.6% during the 3rd quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock valued at $306,000 after buying an additional 196 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its position in Cisco Systems by 3.8% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 5,385 shares of the network equipment provider’s stock valued at $290,000 after buying an additional 197 shares in the last quarter. Finally, Winch Advisory Services LLC increased its position in Cisco Systems by 19.3% during the 3rd quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock valued at $66,000 after buying an additional 199 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Down 0.4 %

Cisco Systems stock opened at $48.14 on Tuesday. The business has a 50-day simple moving average of $49.03 and a two-hundred day simple moving average of $50.17. The company has a market cap of $194.93 billion, a P/E ratio of 14.63, a P/E/G ratio of 2.77 and a beta of 0.87. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 EPS. Analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be paid a dividend of $0.40 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s payout ratio is currently 48.63%.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’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 transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CSCO. Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Citigroup assumed coverage on Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. Finally, Barclays upped their price target on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.53.

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.