Tradition Wealth Management LLC Has $1.25 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Tradition Wealth Management LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 15.8% in the third quarter, HoldingsChannel reports. The fund owned 23,464 shares of the network equipment provider’s stock after selling 4,389 shares during the period. Tradition Wealth Management LLC’s holdings in Cisco Systems were worth $1,249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Summit Securities Group LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at $25,000. Quarry LP increased its position in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC raised its holdings in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Cisco Systems during the second quarter valued at approximately $36,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Cisco Systems in the third quarter valued at approximately $40,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CSCO shares. Citigroup increased their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Tigress Financial lifted their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, August 15th. Finally, Morgan Stanley raised their price objective on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 339,479 shares of company stock valued at $19,490,991 in the last ninety days. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $59.21 on Monday. The company’s 50 day moving average price is $55.83 and its two-hundred day moving average price is $50.54. The firm has a market capitalization of $235.82 billion, a P/E ratio of 25.41, a P/E/G ratio of 4.41 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.87. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter last year, the business posted $0.98 EPS. Cisco Systems’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

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.