HBK Sorce Advisory LLC Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

HBK Sorce Advisory LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,044 shares of the network equipment provider’s stock after selling 2,502 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Cisco Systems were worth $2,615,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in Cisco Systems in the 2nd quarter worth about $25,000. Retirement Group LLC lifted its position in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares during the period. Hobbs Group Advisors LLC purchased a new stake in Cisco Systems during the second quarter valued at $36,000. Tidemark LLC purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $41,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Cisco Systems in the first quarter worth about $41,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Up 1.0 %

NASDAQ CSCO opened at $49.61 on Friday. The stock has a market capitalization of $197.98 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83. The firm has a 50 day moving average of $47.99 and a two-hundred day moving average of $47.95. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $56.53. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the firm posted $1.01 earnings per share. The firm’s revenue was down 10.3% on a year-over-year basis. As a group, research analysts expect that Cisco Systems, Inc. will post 2.9 EPS 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. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

Analysts Set New Price Targets

CSCO has been the topic of several research analyst reports. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Barclays reduced their price objective on shares of 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. Rosenblatt Securities lifted their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $46.00 to $58.00 in a research report on Friday, August 16th. One 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 stock. According to MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and a consensus target price of $55.89.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the transaction, the executive vice president now owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 in the last quarter. Company insiders own 0.02% of the company’s stock.

Cisco Systems 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.