Phillips Wealth Planners LLC Sells 890 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Phillips Wealth Planners LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 15.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,781 shares of the network equipment provider’s stock after selling 890 shares during the period. Phillips Wealth Planners LLC’s holdings in Cisco Systems were worth $270,000 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. China Universal Asset Management Co. Ltd. boosted its position in shares of Cisco Systems by 226.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock worth $1,319,000 after purchasing an additional 18,339 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Cisco Systems by 6.9% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 95,826 shares of the network equipment provider’s stock worth $4,783,000 after acquiring an additional 6,149 shares in the last quarter. Choreo LLC grew its stake in Cisco Systems by 0.8% in the first quarter. Choreo LLC now owns 96,719 shares of the network equipment provider’s stock valued at $4,827,000 after acquiring an additional 796 shares during the period. BNP Paribas bought a new stake in shares of Cisco Systems during the first quarter valued at approximately $6,173,000. Finally, St. Louis Trust Co raised its position in shares of Cisco Systems by 17.3% during the first quarter. St. Louis Trust Co now owns 17,924 shares of the network equipment provider’s stock worth $895,000 after purchasing an additional 2,643 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

Shares of CSCO opened at $55.50 on Friday. 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 stock has a 50-day moving average price of $52.63 and a 200-day moving average price of $49.09. The company has a market cap of $221.49 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 4.61 and a beta of 0.83. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06.

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

Cisco Systems Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CSCO shares. Barclays reduced their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Jefferies Financial Group dropped their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Tigress Financial upped their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.74.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was 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 in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last ninety days. Insiders own 0.01% of the company’s stock.

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.