Alpha Omega Wealth Management LLC Sells 6,464 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Alpha Omega Wealth Management LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 163,810 shares of the network equipment provider's stock after selling 6,464 shares during the quarter. Cisco Systems accounts for approximately 1.9% of Alpha Omega Wealth Management LLC's portfolio, making the stock its 7th biggest position. Alpha Omega Wealth Management LLC's holdings in Cisco Systems were worth $10,109,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $26,000. Navigoe LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at $26,000. JDM Financial Group LLC raised its holdings in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems during the 4th quarter worth about $30,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. UBS Group boosted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. New Street Research reiterated a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Finally, Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average price target of $68.00.

Cisco Systems Stock Up 1.4%

Shares of NASDAQ CSCO traded up $0.91 during mid-day trading on Thursday, reaching $65.10. The company had a trading volume of 15,146,864 shares, compared to its average volume of 20,148,315. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock has a market cap of $257.80 billion, a P/E ratio of 28.43, a PEG ratio of 4.16 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $60.25 and a two-hundred day simple moving average of $60.53.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business's revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.52%. Cisco Systems's payout ratio is 66.94%.

Cisco Systems announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president now owns 181,186 shares of the company's stock, valued at approximately $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the sale, the executive vice president now owns 131,676 shares of the company's stock, valued at $8,365,376.28. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock worth $4,671,930 in the last 90 days. 0.01% of the stock is owned by insiders.

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.