Vicus Capital Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Vicus Capital lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,291 shares of the network equipment provider’s stock after selling 788 shares during the period. Vicus Capital’s holdings in Cisco Systems were worth $548,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. AdvisorNet Financial Inc grew its holdings in shares of Cisco Systems by 19.1% during the 1st quarter. AdvisorNet Financial Inc now owns 16,034 shares of the network equipment provider’s stock worth $800,000 after purchasing an additional 2,577 shares during the period. Global Assets Advisory LLC purchased a new stake in Cisco Systems during the first quarter worth approximately $3,344,000. Austin Private Wealth LLC raised its stake in shares of Cisco Systems by 6.1% in the 1st quarter. Austin Private Wealth LLC now owns 7,657 shares of the network equipment provider’s stock valued at $373,000 after acquiring an additional 440 shares during the period. New England Professional Planning Group Inc. lifted its holdings in shares of Cisco Systems by 8.8% during the 1st quarter. New England Professional Planning Group Inc. now owns 7,319 shares of the network equipment provider’s stock valued at $365,000 after acquiring an additional 590 shares in the last quarter. Finally, DLK Investment Management LLC boosted its position in Cisco Systems by 2.3% during the 1st quarter. DLK Investment Management LLC now owns 63,065 shares of the network equipment provider’s stock worth $3,148,000 after purchasing an additional 1,393 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 in the last ninety days. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.04 during midday trading on Tuesday, hitting $56.63. The company’s stock had a trading volume of 3,692,451 shares, compared to its average volume of 19,080,816. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The firm’s fifty day moving average price is $51.41 and its 200-day moving average price is $48.66. The firm has a market cap of $228.15 billion, a P/E ratio of 19.05, a P/E/G ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Analyst Ratings Changes

A number of research analysts have commented on the company. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Barclays dropped their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.74.

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.