CWA Asset Management Group LLC Sells 4,223 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

CWA Asset Management Group LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,213 shares of the network equipment provider’s stock after selling 4,223 shares during the quarter. CWA Asset Management Group LLC’s holdings in Cisco Systems were worth $7,418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CSCO. PUREfi Wealth LLC purchased a new position in Cisco Systems in the 1st quarter worth about $242,000. Kingswood Wealth Advisors LLC boosted its holdings in shares of Cisco Systems by 139.3% in the first quarter. Kingswood Wealth Advisors LLC now owns 102,266 shares of the network equipment provider’s stock valued at $6,317,000 after purchasing an additional 59,531 shares during the period. Accelerate Investment Advisors LLC purchased a new stake in shares of Cisco Systems in the first quarter valued at approximately $234,000. Cornerstone Wealth Management LLC raised its position in Cisco Systems by 1.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 42,886 shares of the network equipment provider’s stock valued at $2,646,000 after purchasing an additional 489 shares in the last quarter. Finally, Cushing Capital Partners LLC bought a new stake in Cisco Systems during the 1st quarter valued at $1,003,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $65.33 on Wednesday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The business’s fifty day simple moving average is $60.86 and its 200-day simple moving average is $60.66. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The company has a market cap of $258.71 billion, a PE ratio of 26.67, a PEG ratio of 3.95 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 earnings per share. Analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.51%. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Insiders Place Their Bets

In related news, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider now owns 255,377 shares in the company, valued at approximately $16,413,079.79. This represents a 0.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the transaction, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,931 shares of company stock valued at $4,671,930. 0.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CSCO shares. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.11.

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.