Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Sterling Financial Planning Inc.


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Sterling Financial Planning Inc. lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,769 shares of the network equipment provider’s stock after selling 293 shares during the period. Sterling Financial Planning Inc.’s holdings in Cisco Systems were worth $91,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. CFO4Life Group LLC grew its holdings in Cisco Systems by 0.7% during the 1st quarter. CFO4Life Group LLC now owns 29,789 shares of the network equipment provider’s stock valued at $1,540,000 after buying an additional 196 shares during the last quarter. Lake Street Financial LLC raised its position in shares of Cisco Systems by 0.9% in the 1st quarter. Lake Street Financial LLC now owns 23,885 shares of the network equipment provider’s stock worth $1,235,000 after buying an additional 220 shares during the period. Polaris Wealth Advisory Group LLC raised its position in shares of Cisco Systems by 2.6% in the 1st quarter. Polaris Wealth Advisory Group LLC now owns 8,533 shares of the network equipment provider’s stock worth $445,000 after buying an additional 220 shares during the period. YorkBridge Wealth Partners LLC raised its position in shares of Cisco Systems by 1.9% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 12,109 shares of the network equipment provider’s stock worth $626,000 after buying an additional 220 shares during the period. Finally, Sara Bay Financial raised its position in shares of Cisco Systems by 1.3% in the 1st quarter. Sara Bay Financial now owns 17,326 shares of the network equipment provider’s stock worth $896,000 after buying an additional 221 shares during the period. Hedge funds and other institutional investors own 70.62% of the company’s stock.

CSCO has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Cisco Systems in a report on Monday, April 26th. They issued a “hold” rating and a $55.00 price target for the company. Citigroup raised their target price on Cisco Systems from $45.00 to $50.00 in a research note on Wednesday, February 10th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a research note on Thursday, March 11th. Raymond James raised their target price on Cisco Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, February 10th. Finally, The Goldman Sachs Group upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $50.00 to $59.00 in a research note on Wednesday, March 31st. Fourteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $50.71.

In other Cisco Systems news, EVP Mark D. Chandler sold 3,024 shares of Cisco Systems stock in a transaction on Friday, February 12th. The shares were sold at an average price of $47.21, for a total transaction of $142,763.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Prat Bhatt sold 6,273 shares of Cisco Systems stock in a transaction on Friday, February 12th. The shares were sold at an average price of $47.21, for a total transaction of $296,148.33. Following the sale, the chief accounting officer now directly owns 119,282 shares of the company’s stock, valued at approximately $5,631,303.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,776 shares of company stock worth $1,832,205. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems stock traded down $0.50 during mid-day trading on Tuesday, hitting $50.67. The company’s stock had a trading volume of 276,234 shares, compared to its average volume of 21,005,725. The company has a quick ratio of 1.54, a current ratio of 1.59 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $213.92 billion, a P/E ratio of 20.80, a P/E/G ratio of 2.54 and a beta of 0.95. Cisco Systems, Inc. has a twelve month low of $35.28 and a twelve month high of $53.18. The stock’s fifty day moving average price is $51.33 and its two-hundred day moving average price is $45.58.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.03. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. The firm had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.92 billion. During the same period in the previous year, the company posted $0.77 EPS. Equities analysts expect that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 28th. Shareholders of record on Tuesday, April 6th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.92%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, April 5th. Cisco Systems’s payout ratio is presently 50.68%.

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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