Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,747 shares of the network equipment provider’s stock after selling 2,632 shares during the quarter. Kovack Advisors Inc.’s holdings in Cisco Systems were worth $1,104,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CSCO. China Universal Asset Management Co. Ltd. increased its position in Cisco Systems by 226.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after acquiring an additional 18,339 shares during the period. TBH Global Asset Management LLC lifted its holdings in shares of Cisco Systems by 15.7% during the first quarter. TBH Global Asset Management LLC now owns 7,239 shares of the network equipment provider’s stock worth $361,000 after purchasing an additional 984 shares during the period. Taylor Hoffman Wealth Management grew its position in Cisco Systems by 2.9% in the 1st quarter. Taylor Hoffman Wealth Management now owns 96,774 shares of the network equipment provider’s stock valued at $4,830,000 after buying an additional 2,765 shares during the last quarter. Cumberland Partners Ltd increased its stake in Cisco Systems by 87.9% in the 1st quarter. Cumberland Partners Ltd now owns 33,068 shares of the network equipment provider’s stock valued at $1,650,000 after buying an additional 15,468 shares during the period. Finally, TCTC Holdings LLC raised its position in Cisco Systems by 0.7% during the 1st quarter. TCTC Holdings LLC now owns 359,214 shares of the network equipment provider’s stock worth $17,928,000 after buying an additional 2,493 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CSCO shares. Barclays dropped 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 research note on Thursday, August 15th. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Tigress Financial lifted their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $62.00 in a research report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.32.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $59.18 on Thursday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38. The stock has a market cap of $236.17 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 4.86 and a beta of 0.83. The business’s fifty day moving average price is $53.64 and its two-hundred day moving average price is $49.57. 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 (NASDAQ:CSCO) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. On average, analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.70%. Cisco Systems’s dividend payout ratio is presently 62.99%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The stock was 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 in the company, valued at $33,794,278.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.01% of the company’s stock.

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.