Legacy Financial Advisors Inc. Sells 1,684 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Legacy Financial Advisors Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 34,372 shares of the network equipment provider’s stock after selling 1,684 shares during the period. Legacy Financial Advisors Inc.’s holdings in Cisco Systems were worth $1,736,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. California Public Employees Retirement System increased its holdings in shares of Cisco Systems by 25.0% during 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 acquiring an additional 3,753,165 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter worth about $179,207,000. Capital Wealth Planning LLC boosted its holdings in shares of Cisco Systems by 7,074.3% during the 3rd quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock worth $175,883,000 after buying an additional 3,226,040 shares during the period. Pacer Advisors Inc. grew its stake in Cisco Systems by 32.7% in the 4th quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock valued at $391,498,000 after buying an additional 1,909,597 shares during the last quarter. Finally, Northern Trust Corp lifted its position 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 acquiring an additional 1,847,682 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction dated Wednesday, March 13th. The shares were 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 of the company’s stock, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 over the last quarter. 0.02% of the stock is owned by company insiders.

Analyst Ratings Changes

CSCO has been the subject of several recent research reports. JPMorgan Chase & Co. started coverage on Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target for the company. Barclays upped their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Citigroup began coverage on shares of Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective for the company. Wells Fargo & Company began coverage on shares of Cisco Systems in a report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective for the company. Finally, Piper Sandler raised their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has an average rating of “Hold” and an average price target of $55.53.

Cisco Systems Price Performance

Shares of CSCO traded up $0.33 during mid-day trading on Friday, reaching $47.12. The company had a trading volume of 17,935,302 shares, compared to its average volume of 17,219,910. The company has a market capitalization of $190.80 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 2.72 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The company’s 50 day simple moving average is $48.79 and its 200 day simple moving average is $49.83. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The company’s revenue was down 5.9% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were issued a dividend of $0.40 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, April 3rd. Cisco Systems’s payout ratio is 48.63%.

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.