Financial Advocates Investment Management Has $2.80 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Financial Advocates Investment Management lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,379 shares of the network equipment provider’s stock after selling 3,992 shares during the period. Financial Advocates Investment Management’s holdings in Cisco Systems were worth $2,798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Cisco Systems by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after acquiring an additional 6,345,954 shares in the last quarter. FMR LLC lifted its position in shares of Cisco Systems by 3.2% during the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after purchasing an additional 1,790,717 shares in the last quarter. Northern Trust Corp boosted its holdings in Cisco Systems by 3.8% during the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after purchasing an additional 1,847,682 shares during the last quarter. Invesco Ltd. increased its stake in Cisco Systems by 3.7% in the 3rd quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock valued at $1,802,909,000 after buying an additional 1,181,327 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Cisco Systems by 25.0% in the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after buying an additional 3,753,165 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target on the stock. Oppenheimer boosted their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday. UBS Group raised their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Wells Fargo & Company boosted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $56.47.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock valued at $972,080 over the last three months. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

NASDAQ CSCO traded down $0.17 on Friday, hitting $48.17. The stock had a trading volume of 22,020,305 shares, compared to its average volume of 18,663,308. The firm has a 50-day moving average of $48.69 and a 200-day moving average of $49.51. The company has a market capitalization of $195.05 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.26 and a current ratio of 0.89. Cisco Systems, Inc. has a 52-week low of $45.70 and a 52-week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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 company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.88 earnings per share. Equities analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

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.