Focus Financial Network Inc. Sells 5,179 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Focus Financial Network Inc. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 15.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,915 shares of the network equipment provider’s stock after selling 5,179 shares during the period. Focus Financial Network Inc.’s holdings in Cisco Systems were worth $1,354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Delos Wealth Advisors LLC boosted its position in shares of Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at about $33,000. Retirement Group LLC raised its stake in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares during the period. Hobbs Group Advisors LLC acquired a new position in Cisco Systems during the 2nd quarter worth approximately $36,000. Finally, Tidemark LLC acquired a new position in Cisco Systems during the 4th quarter worth approximately $41,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded up $0.15 during trading hours on Wednesday, reaching $50.39. The company had a trading volume of 6,467,441 shares, compared to its average volume of 19,822,109. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $58.19. The business has a fifty day simple moving average of $46.91 and a 200 day simple moving average of $47.86. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The firm has a market cap of $203.01 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.18%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CSCO shares. Wells Fargo & Company upped their price target on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Rosenblatt Securities upped their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Barclays lowered their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and a consensus price target of $55.89.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 22,309 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the sale, the chief financial officer now owns 293,184 shares in the company, valued at $14,659,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the transaction, the senior vice president now owns 52,953 shares in the company, valued at $2,430,013.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 22,309 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the sale, the chief financial officer now directly owns 293,184 shares in the company, valued at $14,659,200. The disclosure for this sale can be found here. Insiders have sold 90,004 shares of company stock worth $4,348,600 over the last 90 days. Corporate insiders own 0.02% of the company’s stock.

About Cisco Systems

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.