Canvas Wealth Advisors LLC Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Canvas Wealth Advisors LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,665 shares of the network equipment provider’s stock after selling 1,057 shares during the period. Canvas Wealth Advisors LLC’s holdings in Cisco Systems were worth $454,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Octavia Wealth Advisors LLC boosted its position in shares of Cisco Systems by 4.8% in the 3rd quarter. Octavia Wealth Advisors LLC now owns 5,340 shares of the network equipment provider’s stock worth $284,000 after buying an additional 244 shares in the last quarter. Perfromance Wealth Partners LLC purchased a new stake in shares of Cisco Systems in the third quarter valued at about $233,000. Montis Financial LLC grew its position in shares of Cisco Systems by 25.1% in the third quarter. Montis Financial LLC now owns 6,755 shares of the network equipment provider’s stock valued at $360,000 after purchasing an additional 1,355 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Cisco Systems by 57.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,126 shares of the network equipment provider’s stock worth $273,000 after purchasing an additional 1,876 shares in the last quarter. Finally, CHICAGO TRUST Co NA lifted its stake in Cisco Systems by 5.6% in the 3rd quarter. CHICAGO TRUST Co NA now owns 36,489 shares of the network equipment provider’s stock valued at $1,942,000 after buying an additional 1,919 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CSCO. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley lifted their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup lifted their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, January 17th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Tuesday, January 28th. Finally, Bank of America upped their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Price Performance

CSCO opened at $62.27 on Monday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $63.25. The firm has a market cap of $248.01 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 4.63 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $59.71 and a 200 day simple moving average of $55.04.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. Equities research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently 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.