Prospera Financial Services Inc Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Prospera Financial Services Inc decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 23.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 181,559 shares of the network equipment provider's stock after selling 54,428 shares during the period. Prospera Financial Services Inc's holdings in Cisco Systems were worth $9,663,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CSCO. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems during the 2nd quarter worth approximately $25,000. Quarry LP increased its holdings in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC increased its holdings in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after buying an additional 309 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC increased its holdings in shares of Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock worth $42,000 after buying an additional 766 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Morgan Stanley increased their price objective on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Barclays increased their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Rosenblatt Securities increased their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Finally, Bank of America increased their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus price target of $59.94.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the business's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. The trade was a 5.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the business's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. The trade was a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,615 shares of company stock valued at $682,681. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.41 during trading on Tuesday, reaching $56.90. The company had a trading volume of 6,764,226 shares, compared to its average volume of 19,109,029. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The stock's fifty day moving average price is $54.35 and its 200 day moving average price is $49.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38. The firm has a market capitalization of $227.07 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 4.67 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems's revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.81%. Cisco Systems's dividend payout ratio is currently 68.67%.

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.