OMNI 360 Wealth Inc. Trims Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

OMNI 360 Wealth Inc. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,189 shares of the network equipment provider’s stock after selling 476 shares during the quarter. OMNI 360 Wealth Inc.’s holdings in Cisco Systems were worth $223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after purchasing an additional 288,775 shares during the period. Citizens Financial Group Inc. RI grew its position in shares of Cisco Systems by 24.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after buying an additional 51,924 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of Cisco Systems by 10.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after buying an additional 162,544 shares during the period. Valmark Advisers Inc. raised its holdings in shares of Cisco Systems by 4.7% in the second quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock valued at $1,941,000 after acquiring an additional 1,820 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its stake in Cisco Systems by 2.4% in the first quarter. Cornerstone Wealth Management LLC now owns 38,053 shares of the network equipment provider’s stock worth $1,899,000 after acquiring an additional 889 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock traded down $0.22 during mid-day trading on Friday, reaching $55.74. The stock had a trading volume of 14,680,466 shares, compared to its average volume of 19,091,068. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The firm has a market cap of $224.57 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 4.22 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average is $52.12 and its 200-day moving average is $48.86.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The company 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%. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. On average, research analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of a number of research reports. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $52.00 to $62.00 in a research report on Wednesday, October 16th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $58.00 in a report on Friday, August 16th. Jefferies Financial Group lowered their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Tigress Financial lifted their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average price target of $56.74.

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.