Continuum Advisory LLC Sells 1,670 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Continuum Advisory LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 15.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,288 shares of the network equipment provider’s stock after selling 1,670 shares during the quarter. Continuum Advisory LLC’s holdings in Cisco Systems were worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CSCO. Aviso Wealth Management boosted its holdings in shares of Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock valued at $405,000 after acquiring an additional 181 shares during the last quarter. Waypoint Capital Advisors LLC lifted its position in Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after purchasing an additional 182 shares during the period. Andina Capital Management LLC boosted its holdings in Cisco Systems by 3.6% in the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock worth $279,000 after purchasing an additional 182 shares during the last quarter. Wealth Dimensions Group Ltd. grew its position in Cisco Systems by 1.6% in the 3rd quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider’s stock worth $605,000 after purchasing an additional 182 shares during the period. Finally, Meridian Financial Partners LLC raised its stake in Cisco Systems by 3.8% during the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after buying an additional 185 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSCO has been the subject of several research analyst reports. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, August 15th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley increased their price objective on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. UBS Group boosted their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Evercore ISI increased their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Trading Down 0.4 %

CSCO stock opened at $58.72 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.23. The business has a 50 day simple moving average of $56.65 and a two-hundred day simple moving average of $51.05. The company has a market capitalization of $233.87 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 4.39 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the company posted $0.98 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the transaction, the director now directly owns 65,915 shares of the company’s stock, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,860 shares of company stock worth $20,231,558 in the last quarter. 0.01% of the stock is owned by corporate insiders.

Cisco Systems 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.