Hudson Valley Investment Advisors Inc. ADV Sells 17,193 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Hudson Valley Investment Advisors Inc. ADV lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 122,418 shares of the network equipment provider’s stock after selling 17,193 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Cisco Systems were worth $6,515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Waypoint Capital Advisors LLC boosted its stake in shares of Cisco Systems by 2.9% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after buying an additional 182 shares during the period. Andina Capital Management LLC boosted its stake in shares of Cisco Systems by 3.6% in the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after buying an additional 182 shares during the period. Meridian Financial Partners LLC boosted its stake in shares of Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after buying an additional 185 shares during the period. Gleason Group Inc. boosted its stake in shares of Cisco Systems by 0.9% in the 3rd quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock valued at $1,207,000 after buying an additional 193 shares during the period. Finally, Cassia Capital Partners LLC boosted its stake in shares of Cisco Systems by 1.5% in the 3rd quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider’s stock valued at $696,000 after buying an additional 195 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.2 %

Shares of CSCO opened at $55.59 on Thursday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.06. The stock’s 50-day moving average is $52.44 and its two-hundred day moving average is $49.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The stock has a market cap of $221.84 billion, a PE ratio of 21.89, a P/E/G ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the company posted $1.01 EPS. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. Cisco Systems’s dividend payout ratio is currently 62.99%.

Analysts Set New Price Targets

CSCO has been the subject of several recent research reports. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Monday. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Barclays cut their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.74.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at $8,181,307.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 over the last ninety days. Corporate insiders own 0.01% 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.