Advisor Resource Council Sells 8,701 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Advisor Resource Council lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 55.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,864 shares of the network equipment provider’s stock after selling 8,701 shares during the period. Advisor Resource Council’s holdings in Cisco Systems were worth $347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Valued Wealth Advisors LLC bought a new stake in Cisco Systems during the 4th quarter worth approximately $32,000. Delos Wealth Advisors LLC grew its stake 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 during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Cisco Systems in the fourth quarter valued at $33,000. Morton Brown Family Wealth LLC raised its position in Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC lifted its holdings in Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $47.09 on Friday. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $47.00 and a 200-day moving average price of $48.74. The company has a market cap of $189.72 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the firm posted $0.88 EPS. Cisco Systems’s quarterly revenue was down 12.8% compared to the same quarter last year. Equities analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Buying and Selling at Cisco Systems

In related 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 directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were 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 in the company, valued at $33,439,234.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the transaction, the executive vice president now owns 176,384 shares in the company, valued at $7,997,250.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,106 shares of company stock worth $1,908,923. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CSCO. Wells Fargo & Company raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Oppenheimer upped their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Barclays upped their target price on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $56.47.

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.