Providence Capital Advisors LLC Has $3.43 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Providence Capital Advisors LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 66.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,910 shares of the network equipment provider’s stock after selling 116,243 shares during the period. Providence Capital Advisors LLC’s holdings in Cisco Systems were worth $3,428,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CSCO. Norges Bank purchased a new position in Cisco Systems during the 4th quarter worth $3,297,905,000. Raymond James Financial Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at about $560,722,000. Two Sigma Advisers LP boosted its holdings in Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after purchasing an additional 5,223,800 shares during the last quarter. National Bank of Canada FI grew its position in Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after purchasing an additional 3,975,028 shares in the last quarter. Finally, State Street Corp increased its stake in Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after buying an additional 3,241,682 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $61.40 on Friday. The firm has a market capitalization of $244.27 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a fifty day moving average of $62.10 and a 200 day moving average of $58.38. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.67%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Cisco Systems announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CSCO shares. Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. The Goldman Sachs Group lifted their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $66.63.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,547 shares of company stock valued at $4,275,553. 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.