Kingsview Wealth Management LLC Has $4.54 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Kingsview Wealth Management LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 68.0% during the fourth quarter, HoldingsChannel reports. The firm owned 76,686 shares of the network equipment provider’s stock after selling 162,743 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Cisco Systems were worth $4,540,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Pflug Koory LLC grew its stake in shares of Cisco Systems by 0.5% in the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after buying an additional 165 shares in the last quarter. Beaumont Financial Advisors LLC grew its stake in shares of Cisco Systems by 1.7% in the 4th quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock worth $627,000 after buying an additional 173 shares in the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of Cisco Systems by 0.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock worth $1,879,000 after purchasing an additional 178 shares during the period. Aviso Wealth Management boosted its stake in shares of Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after purchasing an additional 181 shares during the period. Finally, Waypoint Capital Advisors LLC boosted its stake in shares of Cisco Systems by 2.9% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after purchasing an additional 182 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $62.27 on Friday. The firm has a market capitalization of $248.01 billion, a P/E ratio of 26.73, a PEG ratio of 4.63 and a beta of 0.84. 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’s fifty day moving average price is $59.71 and its 200-day moving average price is $54.98. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $63.25.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for 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 firm’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the business earned $0.98 earnings per share. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CSCO shares. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. UBS Group lifted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Finally, Bank of America boosted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.72.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the transaction, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the transaction, the senior vice president now directly owns 51,931 shares in the company, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

About Cisco Systems

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.