Signature Estate & Investment Advisors LLC Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Signature Estate & Investment Advisors LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 83.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,937 shares of the network equipment provider's stock after selling 41,324 shares during the period. Signature Estate & Investment Advisors LLC's holdings in Cisco Systems were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CSCO. Summit Securities Group LLC bought a new stake in shares of Cisco Systems during the 2nd quarter worth $25,000. Quarry LP boosted its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its position 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 valued at $31,000 after purchasing an additional 309 shares in 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 grew its holdings in Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock worth $42,000 after purchasing an additional 766 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares of the company's stock, valued at $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Richard Scott Herren sold 22,309 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the sale, the chief financial officer now directly owns 293,184 shares in the company, valued at approximately $14,659,200. This represents a 7.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,924 shares of company stock worth $1,798,131 in the last 90 days. Company insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CSCO. New Street Research raised Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a research note on Thursday, August 15th. Tigress Financial increased their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, October 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Cisco Systems in a research report on Thursday, August 15th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus price target of $59.42.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded down $0.46 during trading on Friday, hitting $57.46. 28,173,705 shares of the stock traded hands, compared to its average volume of 18,249,024. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm's fifty day moving average is $54.18 and its 200-day moving average is $49.80. The stock has a market cap of $229.31 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 4.76 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company's revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. Research analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal 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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's payout ratio is 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.