Phoenix Wealth Advisors Sells 431 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Phoenix Wealth Advisors lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,773 shares of the network equipment provider’s stock after selling 431 shares during the period. Cisco Systems accounts for approximately 2.3% of Phoenix Wealth Advisors’ portfolio, making the stock its 11th largest holding. Phoenix Wealth Advisors’ holdings in Cisco Systems were worth $3,322,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Kathleen S. Wright Associates Inc. purchased a new position in Cisco Systems in the third quarter worth $27,000. Valued Wealth Advisors LLC bought a new position in shares of Cisco Systems during the 4th quarter valued at about $32,000. Fortis Capital Advisors LLC purchased a new position in shares of Cisco Systems during the 4th quarter valued at about $34,000. Morton Brown Family Wealth LLC lifted its position in Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC boosted its stake in Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.1 %

Shares of NASDAQ CSCO traded down $0.07 during midday trading on Wednesday, hitting $47.85. 3,058,972 shares of the company traded hands, compared to its average volume of 19,420,063. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The stock has a 50-day moving average price of $49.18 and a 200 day moving average price of $50.32. The firm has a market cap of $193.75 billion, a P/E ratio of 14.57, a P/E/G ratio of 2.73 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 EPS. As a group, analysts expect that Cisco Systems, Inc. will post 3.19 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.34%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

Analyst Ratings Changes

Several research firms have commented on CSCO. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Melius Research reissued a “hold” rating and issued a $55.00 price target on shares of Cisco Systems in a research note on Monday, January 8th. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Finally, Piper Sandler raised their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.03.

Insider Activity at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock valued at $972,080 in the last three months. Company insiders own 0.02% of the company’s stock.

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.