Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Angeles Wealth Management LLC

Angeles Wealth Management LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.5% during the third quarter, HoldingsChannel reports. The firm owned 13,569 shares of the network equipment provider’s stock after selling 1,268 shares during the quarter. Angeles Wealth Management LLC’s holdings in Cisco Systems were worth $722,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp lifted its position in shares of Cisco Systems by 3.6% during the third quarter. Van ECK Associates Corp now owns 1,179,202 shares of the network equipment provider’s stock worth $66,365,000 after purchasing an additional 40,791 shares in the last quarter. Fort Pitt Capital Group LLC lifted its position in shares of Cisco Systems by 3.9% during the third quarter. Fort Pitt Capital Group LLC now owns 82,628 shares of the network equipment provider’s stock worth $4,397,000 after purchasing an additional 3,109 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Cisco Systems by 0.5% during the third quarter. Harbor Capital Advisors Inc. now owns 46,809 shares of the network equipment provider’s stock worth $2,491,000 after purchasing an additional 226 shares in the last quarter. Allen Wealth Management LLC lifted its position in shares of Cisco Systems by 1.9% during the third quarter. Allen Wealth Management LLC now owns 56,201 shares of the network equipment provider’s stock worth $2,991,000 after purchasing an additional 1,046 shares in the last quarter. Finally, Pure Financial Advisors LLC lifted its position in shares of Cisco Systems by 5.8% during the third quarter. Pure Financial Advisors LLC now owns 11,702 shares of the network equipment provider’s stock worth $623,000 after purchasing an additional 645 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CSCO. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Barclays cut their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, Tigress Financial upped their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.74.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

CSCO stock traded up $0.73 during trading on Friday, hitting $55.50. The company had a trading volume of 19,235,612 shares, compared to its average volume of 15,590,850. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $221.49 billion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 4.54 and a beta of 0.83. The business has a 50 day moving average of $52.63 and a 200 day moving average of $49.09.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the company earned $1.01 EPS. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. As a group, research analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is 62.99%.

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 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.