Alpha Omega Wealth Management LLC Sells 1,191 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Alpha Omega Wealth Management LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,280 shares of the network equipment provider’s stock after selling 1,191 shares during the quarter. Cisco Systems accounts for approximately 1.7% of Alpha Omega Wealth Management LLC’s investment portfolio, making the stock its 11th largest position. Alpha Omega Wealth Management LLC’s holdings in Cisco Systems were worth $9,169,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new position in shares of Cisco Systems in the 2nd quarter valued at $25,000. Quarry LP boosted its stake in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares in the last quarter. Retirement Group LLC grew its position in Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Cisco Systems during the second quarter worth about $36,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Cisco Systems in the first quarter worth about $41,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $52.43 on Friday. The company has a market cap of $211.23 billion, a P/E ratio of 17.65, a PEG ratio of 4.11 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $49.48 and a two-hundred day moving average price of $48.25. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $54.58.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.05%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 53.87%.

Analyst Ratings Changes

CSCO has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, August 15th. Barclays dropped their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Finally, Jefferies Financial Group reduced their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus price target of $55.00.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is currently owned by company insiders.

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.