OneDigital Investment Advisors LLC Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

OneDigital Investment Advisors LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,683 shares of the network equipment provider’s stock after selling 5,375 shares during the period. OneDigital Investment Advisors LLC’s holdings in Cisco Systems were worth $6,795,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CSCO. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Cisco Systems by 226.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after purchasing an additional 18,339 shares during the period. Connors Investor Services Inc. grew its position in shares of Cisco Systems by 22.4% during the 1st quarter. Connors Investor Services Inc. now owns 8,813 shares of the network equipment provider’s stock worth $440,000 after buying an additional 1,610 shares in the last quarter. Patten & Patten Inc. TN increased its stake in shares of Cisco Systems by 3.6% during the first quarter. Patten & Patten Inc. TN now owns 216,059 shares of the network equipment provider’s stock valued at $10,784,000 after buying an additional 7,508 shares during the period. Ironsides Asset Advisors LLC bought a new stake in shares of Cisco Systems in the first quarter valued at about $205,000. Finally, Strait & Sound Wealth Management LLC lifted its stake in Cisco Systems by 1.1% in the first quarter. Strait & Sound Wealth Management LLC now owns 23,547 shares of the network equipment provider’s stock worth $1,166,000 after acquiring an additional 251 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction that occurred 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 directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The trade was a 6.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,924 shares of company stock worth $1,798,131 over the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $57.46 on Friday. The business has a fifty day moving average of $54.00 and a 200 day moving average of $49.69. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The firm has a market capitalization of $229.31 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period last year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, research analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CSCO. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their target price for the company from $55.00 to $66.00 in a research report on Monday, November 11th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. Jefferies Financial Group dropped their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.42.

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.