Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Providence Capital Advisors LLC

Key Points

• Providence Capital Advisors LLC decreased its holdings in Cisco Systems by 29.2% in the first quarter, selling 16,906 shares and ending with 41,004 shares valued at $2.53 million.
• Cisco Systems reported earnings of $0.99 per share for the last quarter, slightly beating estimates, with revenue reaching $14.67 billion, up 7.6% year-over-year.
• The company has announced a quarterly dividend of $0.41 per share, with a yield of 2.4% and a payout ratio of 66.94%.

Providence Capital Advisors LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 29.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,004 shares of the network equipment provider's stock after selling 16,906 shares during the period. Providence Capital Advisors LLC's holdings in Cisco Systems were worth $2,530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kornitzer Capital Management Inc. KS grew its holdings in Cisco Systems by 0.7% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider's stock valued at $55,049,000 after buying an additional 6,501 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in Cisco Systems by 10.8% during the 1st quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock valued at $389,000 after buying an additional 612 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Cisco Systems by 28.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock valued at $249,180,000 after buying an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario grew its holdings in Cisco Systems by 44.6% during the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after buying an additional 59,680 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in Cisco Systems by 2.6% during the 1st quarter. IFP Advisors Inc now owns 111,510 shares of the network equipment provider's stock valued at $6,882,000 after buying an additional 2,839 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Trading Down 4.5%

Shares of Cisco Systems stock traded down $3.10 during trading hours on Friday, reaching $66.20. The stock had a trading volume of 40,854,477 shares, compared to its average volume of 20,656,640. The firm has a 50 day simple moving average of $67.98 and a two-hundred day simple moving average of $63.36. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. Cisco Systems, Inc. has a 1 year low of $47.85 and a 1 year high of $72.55. The firm has a market capitalization of $262.15 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 3.67 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The network equipment provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. Cisco Systems had a return on equity of 27.02% and a net margin of 18.45%. The company had revenue of $14.67 billion for the quarter, compared to analyst estimates of $14.63 billion. During the same period last year, the company posted $0.87 earnings per share. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.64 annualized dividend and a yield of 2.5%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wells Fargo & Company increased their target price on Cisco Systems from $75.00 to $83.00 and gave the company an "overweight" rating in a report on Thursday. Wall Street Zen lowered Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. UBS Group increased their price target on Cisco Systems from $70.00 to $74.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Wolfe Research initiated coverage on Cisco Systems in a research note on Tuesday, July 8th. They set a "peer perform" rating on the stock. Finally, HSBC reissued a "hold" rating and set a $69.00 price target on shares of Cisco Systems in a research note on Friday. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $74.53.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares in the company, valued at $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the sale, the executive vice president owned 131,676 shares of the company's stock, valued at $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,731 shares of company stock valued at $5,021,519 over the last ninety days. Insiders own 0.01% 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.