Providence Wealth Advisors LLC Sells 545 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Providence Wealth Advisors LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,173 shares of the network equipment provider’s stock after selling 545 shares during the period. Providence Wealth Advisors LLC’s holdings in Cisco Systems were worth $1,306,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Summit Securities Group LLC bought a new stake in shares of Cisco Systems during the 2nd quarter valued at $25,000. Quarry LP raised its position in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the period. West Financial Advisors LLC raised its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems during the 2nd quarter valued at $36,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems in the 3rd quarter valued at $40,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Down 0.5 %

NASDAQ CSCO opened at $59.29 on Friday. The company’s 50-day moving average price is $55.68 and its 200-day moving average price is $50.45. 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 stock has a market cap of $236.14 billion, a PE ratio of 25.45, a PEG ratio of 4.42 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS 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 analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

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

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 58,188 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the transaction, the executive vice president now directly owns 219,100 shares in the company, valued at $12,596,059. This represents a 20.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 339,479 shares of company stock worth $19,490,991. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on CSCO shares. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. UBS Group lifted their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Finally, Citigroup lifted their price target on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

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.