Venturi Wealth Management LLC Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Markets Daily

Venturi Wealth Management LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 84.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,825 shares of the network equipment provider’s stock after selling 198,405 shares during the quarter. Venturi Wealth Management LLC’s holdings in Cisco Systems were worth $1,907,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Summit Securities Group LLC bought a new stake in shares of Cisco Systems in the second quarter worth about $25,000. Quarry LP grew its holdings in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC increased its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems during the 2nd quarter valued at approximately $36,000. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of 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 valued at $42,000 after purchasing an additional 766 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction that occurred 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 owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock opened at $58.84 on Monday. The company has a market capitalization of $234.81 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 4.79 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $58.84. The firm’s 50-day moving average is $53.30 and its two-hundred day moving average is $49.42.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. Analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.72%. Cisco Systems’s dividend payout ratio (DPR) is 62.99%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CSCO shares. Tigress Financial lifted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $62.00 in a research report on Wednesday, October 16th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their target price for the company from $55.00 to $66.00 in a research note on Monday. Finally, HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $46.00 to $58.00 in a report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.32.

Check Out Our Latest Stock Report on Cisco Systems

Cisco Systems Profile

(Free Report)

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.

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