Foster Victor Wealth Advisors LLC Has $12.92 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Foster Victor Wealth Advisors LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 272,490 shares of the network equipment provider’s stock after purchasing an additional 30,609 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Cisco Systems were worth $12,921,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Delos Wealth Advisors LLC lifted its position in shares of Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of Cisco Systems in the fourth quarter worth $33,000. Retirement Group LLC lifted its position in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares in the last quarter. Tidemark LLC bought a new stake in shares of Cisco Systems in the fourth quarter worth $41,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the first quarter worth $41,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO traded up $0.93 during midday trading on Friday, hitting $49.46. 27,424,886 shares of the company traded hands, compared to its average volume of 19,935,170. The stock has a 50-day moving average of $46.74 and a 200-day moving average of $47.88. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $58.19. The firm has a market cap of $199.27 billion, a P/E ratio of 16.65, a PEG ratio of 2.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 earnings per share. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company 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 annualized dividend and a yield of 3.23%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analysts Set New Price Targets

CSCO has been the topic of several analyst reports. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday. Jefferies Financial Group dropped their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday. 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 report on Thursday. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the stock from $46.00 to $58.00 in a research report on Friday. Finally, Oppenheimer upped their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.70.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. Insiders sold a total of 33,090 shares of company stock valued at $1,522,231 over the last quarter. 0.02% of the stock is owned by corporate insiders.

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.