Centric Wealth Management Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Centric Wealth Management decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,943 shares of the network equipment provider’s stock after selling 355 shares during the quarter. Centric Wealth Management’s holdings in Cisco Systems were worth $286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. increased its stake in shares of Cisco Systems by 2.8% during the third quarter. Pin Oak Investment Advisors Inc. now owns 8,115 shares of the network equipment provider’s stock valued at $431,000 after purchasing an additional 220 shares in the last quarter. Vinva Investment Management Ltd increased its position in Cisco Systems by 74.7% during the 3rd quarter. Vinva Investment Management Ltd now owns 97,326 shares of the network equipment provider’s stock valued at $5,160,000 after buying an additional 41,625 shares in the last quarter. Public Sector Pension Investment Board raised its stake in Cisco Systems by 12.7% during the third quarter. Public Sector Pension Investment Board now owns 175,424 shares of the network equipment provider’s stock valued at $9,336,000 after buying an additional 19,800 shares during the last quarter. Tybourne Capital Management HK Ltd. bought a new stake in Cisco Systems in the third quarter worth $744,000. Finally, Providence Capital Advisors LLC grew its stake in shares of Cisco Systems by 0.3% in the third quarter. Providence Capital Advisors LLC now owns 174,153 shares of the network equipment provider’s stock worth $9,268,000 after acquiring an additional 468 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 339,479 shares of company stock valued at $19,490,991. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $59.29 on Friday. The firm’s 50 day simple moving average is $55.68 and its two-hundred day simple moving average is $50.45. 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 company has a market capitalization of $236.14 billion, a P/E ratio of 25.45, a P/E/G ratio of 4.42 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.87.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. Research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CSCO shares. Bank of America upped their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Barclays increased their target price on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Evercore ISI upped their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.94.

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.