Beacon Financial Advisory LLC Sells 16,777 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Beacon Financial Advisory LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 74.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,687 shares of the network equipment provider's stock after selling 16,777 shares during the quarter. Beacon Financial Advisory LLC's holdings in Cisco Systems were worth $351,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Board of the Pension Protection Fund increased its holdings in shares of Cisco Systems by 134.0% during the first quarter. Board of the Pension Protection Fund now owns 12,400 shares of the network equipment provider's stock worth $765,000 after buying an additional 7,100 shares in the last quarter. Nadler Financial Group Inc. lifted its holdings in shares of Cisco Systems by 2.8% during the first quarter. Nadler Financial Group Inc. now owns 9,697 shares of the network equipment provider's stock worth $598,000 after purchasing an additional 260 shares during the period. PDS Planning Inc lifted its holdings in shares of Cisco Systems by 11.2% during the first quarter. PDS Planning Inc now owns 22,443 shares of the network equipment provider's stock worth $1,385,000 after purchasing an additional 2,256 shares during the period. Investment Advisory Services Inc. TX ADV lifted its holdings in Cisco Systems by 2.9% in the first quarter. Investment Advisory Services Inc. TX ADV now owns 24,516 shares of the network equipment provider's stock valued at $1,513,000 after buying an additional 694 shares during the period. Finally, KPP Advisory Services LLC lifted its holdings in Cisco Systems by 94.3% in the first quarter. KPP Advisory Services LLC now owns 26,939 shares of the network equipment provider's stock valued at $1,662,000 after buying an additional 13,074 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

CSCO has been the topic of several recent analyst reports. KeyCorp initiated coverage on shares of Cisco Systems in a report on Thursday. They issued an "overweight" rating and a $77.00 target price on the stock. Rosenblatt Securities upped their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Piper Sandler upped their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.53.

Cisco Systems Stock Performance

CSCO traded down $0.30 on Friday, hitting $68.65. The company's stock had a trading volume of 26,213,514 shares, compared to its average volume of 20,235,237. The company's 50 day simple moving average is $62.57 and its 200-day simple moving average is $61.10. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The firm has a market cap of $271.85 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.22.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. Analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is presently 66.94%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the transaction, the executive vice president now owns 174,669 shares in the company, valued at approximately $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the transaction, the executive vice president now owns 181,186 shares in the company, valued at approximately $11,505,311. This represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 over the last three months. Company 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.