SS&H Financial Advisors Inc. Sells 2,000 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

SS&H Financial Advisors Inc. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 68,531 shares of the network equipment provider’s stock after selling 2,000 shares during the quarter. Cisco Systems makes up approximately 1.6% of SS&H Financial Advisors Inc.’s portfolio, making the stock its 13th largest position. SS&H Financial Advisors Inc.’s holdings in Cisco Systems were worth $4,229,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Apella Capital LLC lifted its holdings in shares of Cisco Systems by 22.2% during the first quarter. Apella Capital LLC now owns 14,603 shares of the network equipment provider’s stock worth $849,000 after buying an additional 2,651 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc grew its stake in shares of Cisco Systems by 99.9% in the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 930,982 shares of the network equipment provider’s stock worth $57,423,000 after acquiring an additional 465,367 shares during the last quarter. Unigestion Holding SA increased its position in Cisco Systems by 26.5% during the first quarter. Unigestion Holding SA now owns 998,608 shares of the network equipment provider’s stock worth $61,594,000 after acquiring an additional 209,465 shares during the period. Smith Anglin Financial LLC raised its stake in Cisco Systems by 14.1% during the 1st quarter. Smith Anglin Financial LLC now owns 6,148 shares of the network equipment provider’s stock valued at $379,000 after purchasing an additional 758 shares during the last quarter. Finally, RFG Advisory LLC boosted its holdings in Cisco Systems by 124.0% in the 1st quarter. RFG Advisory LLC now owns 86,011 shares of the network equipment provider’s stock valued at $5,308,000 after purchasing an additional 47,606 shares during the period. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CSCO shares. JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Evercore ISI raised their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, New Street Research restated a “neutral” rating and issued a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,616 shares of company stock valued at $2,640,095 in the last three months. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 0.8%

Shares of NASDAQ CSCO opened at $64.36 on Wednesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The business has a fifty day moving average of $59.40 and a two-hundred day moving average of $60.20. The stock has a market cap of $254.87 billion, a PE ratio of 28.10, a PEG ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm posted $0.88 EPS. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.55%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems announced that its board has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

About Cisco Systems

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.