SOA Wealth Advisors LLC. Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

SOA Wealth Advisors LLC. trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 26,257 shares of the network equipment provider’s stock after selling 287 shares during the period. SOA Wealth Advisors LLC.’s holdings in Cisco Systems were worth $1,554,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Barrett & Company Inc. boosted its stake in Cisco Systems by 2.6% during the fourth quarter. Barrett & Company Inc. now owns 7,555 shares of the network equipment provider’s stock valued at $447,000 after buying an additional 190 shares during the period. Triasima Portfolio Management inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at about $904,000. Golden State Wealth Management LLC purchased a new position in shares of Cisco Systems during the fourth quarter worth about $337,000. Fairvoy Private Wealth LLC bought a new position in shares of Cisco Systems in the fourth quarter worth approximately $251,000. Finally, Keystone Financial Group Inc. purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $254,000. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CSCO has been the topic of a number of research analyst reports. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Wells Fargo & Company increased their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Piper Sandler lifted their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, UBS Group boosted their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price of $62.72.

Cisco Systems Stock Performance

Cisco Systems stock opened at $62.27 on Friday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $63.25. The firm has a market cap of $248.01 billion, a P/E ratio of 26.73, a P/E/G ratio of 4.51 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $59.65 and a 200-day moving average of $54.87.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. Sell-side analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. Cisco Systems’s dividend payout ratio is 68.67%.

Insider Activity

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 353,522 shares of company stock valued at $20,349,721. Corporate insiders own 0.01% of the company’s stock.

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. 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.