Phoenix Wealth Advisors Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Phoenix Wealth Advisors lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,773 shares of the network equipment provider’s stock after selling 431 shares during the period. Cisco Systems makes up about 2.3% of Phoenix Wealth Advisors’ portfolio, making the stock its 11th biggest holding. Phoenix Wealth Advisors’ holdings in Cisco Systems were worth $3,322,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. purchased a new stake in Cisco Systems in the third quarter valued at about $27,000. Valued Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $32,000. Fortis Capital Advisors LLC acquired a new position in shares of Cisco Systems during the fourth quarter valued at about $34,000. Morton Brown Family Wealth LLC raised its position in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC boosted its stake in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.07 during trading on Wednesday, hitting $47.85. 3,058,972 shares of the stock traded hands, compared to its average volume of 19,420,063. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average price of $49.18 and a two-hundred day moving average price of $50.32. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The company has a market cap of $193.75 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 2.73 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating 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 company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter in the previous year, the company earned $0.76 earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.19 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be issued a $0.40 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.34%. Cisco Systems’s dividend payout ratio is presently 48.63%.

Analyst Ratings Changes

A number of brokerages have issued reports on CSCO. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Citigroup began coverage on Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 price target on the stock. Finally, Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $60.00 in a research note on Monday. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $56.03.

Insider Buying and Selling at Cisco Systems

In other 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 transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction dated 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 directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’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 sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,441 shares of company stock valued at $972,080. Company insiders own 0.02% of the company’s stock.

Cisco Systems Company 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.