Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Spire Wealth Management

Spire Wealth Management lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 71.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,142 shares of the network equipment provider’s stock after selling 82,002 shares during the period. Spire Wealth Management’s holdings in Cisco Systems were worth $1,527,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its holdings in Cisco Systems by 0.3% in the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after acquiring an additional 202 shares during the period. Hyman Charles D boosted its holdings in Cisco Systems by 0.3% during the fourth quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock worth $3,573,000 after buying an additional 203 shares in the last quarter. Baker Boyer National Bank lifted its position in shares of Cisco Systems by 2.6% during the 1st quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after acquiring an additional 210 shares during the period. Holland Advisory Services Inc. boosted its position in Cisco Systems by 5.3% during the first quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock worth $211,000 after purchasing an additional 213 shares in the last quarter. Finally, WealthPLAN Partners LLC boosted its position in Cisco Systems by 3.0% during the first quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock worth $369,000 after purchasing an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.3 %

Shares of CSCO traded up $0.15 during trading hours on Friday, hitting $50.54. The stock had a trading volume of 15,615,756 shares, compared to its average volume of 21,125,456. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $58.19. The firm has a market cap of $203.62 billion, a P/E ratio of 17.02, a P/E/G ratio of 3.98 and a beta of 0.85. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The company’s fifty day simple moving average is $47.62 and its 200 day simple moving average is $47.91.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. In the last three months, insiders sold 71,944 shares of company stock valued at $3,566,120. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. Finally, Barclays decreased their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.89.

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.