Soltis Investment Advisors LLC Sells 1,594 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Soltis Investment Advisors LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 10,129 shares of the network equipment provider’s stock after selling 1,594 shares during the period. Soltis Investment Advisors LLC’s holdings in Cisco Systems were worth $506,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Clean Yield Group boosted its stake in Cisco Systems by 25.0% in the first quarter. Clean Yield Group now owns 86,246 shares of the network equipment provider’s stock valued at $4,305,000 after acquiring an additional 17,247 shares during the last quarter. Cetera Advisors LLC grew its stake in shares of Cisco Systems by 90.1% during the first quarter. Cetera Advisors LLC now owns 268,251 shares of the network equipment provider’s stock worth $13,388,000 after purchasing an additional 127,174 shares during the period. Cetera Investment Advisers increased its holdings in Cisco Systems by 217.4% in the first quarter. Cetera Investment Advisers now owns 1,107,552 shares of the network equipment provider’s stock valued at $55,278,000 after purchasing an additional 758,624 shares during the last quarter. First City Capital Management Inc. lifted its stake in Cisco Systems by 2.6% in the first quarter. First City Capital Management Inc. now owns 20,232 shares of the network equipment provider’s stock valued at $1,010,000 after buying an additional 515 shares during the period. Finally, BigSur Wealth Management LLC bought a new position in Cisco Systems during the first quarter worth about $998,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Wednesday, June 5th. JPMorgan Chase & Co. started coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Finally, Wells Fargo & Company boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Stock Down 1.5 %

CSCO stock traded down $0.73 during mid-day trading on Friday, reaching $46.66. The company had a trading volume of 24,000,150 shares, compared to its average volume of 18,794,710. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The stock has a 50 day simple moving average of $46.81 and a two-hundred day simple moving average of $48.29. The company has a market capitalization of $187.98 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s revenue was down 12.8% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.43%. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the transaction, the senior vice president now owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock worth $1,908,923 in the last 90 days. Company insiders own 0.02% of the company’s stock.

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.