Beacon Financial Advisory LLC Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Beacon Financial Advisory LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 22,445 shares of the network equipment provider’s stock after selling 184 shares during the quarter. Beacon Financial Advisory LLC’s holdings in Cisco Systems were worth $1,195,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Balentine LLC grew its holdings in Cisco Systems by 121.7% during the 3rd quarter. Balentine LLC now owns 11,153 shares of the network equipment provider’s stock valued at $594,000 after buying an additional 6,123 shares in the last quarter. Long Run Wealth Advisors LLC grew its stake in Cisco Systems by 7.2% during the third quarter. Long Run Wealth Advisors LLC now owns 33,559 shares of the network equipment provider’s stock valued at $1,786,000 after acquiring an additional 2,250 shares in the last quarter. Cornerstone Capital Inc. increased its holdings in Cisco Systems by 1.8% during the 3rd quarter. Cornerstone Capital Inc. now owns 378,394 shares of the network equipment provider’s stock worth $20,138,000 after acquiring an additional 6,563 shares during the period. Global Wealth Management Investment Advisory Inc. lifted its stake in Cisco Systems by 25.6% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 70,224 shares of the network equipment provider’s stock worth $3,737,000 after purchasing an additional 14,322 shares in the last quarter. Finally, Hanlon Investment Management Inc. bought a new position in Cisco Systems in the 3rd quarter valued at $226,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $56.16 on Wednesday. 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 stock has a market capitalization of $224.12 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 4.60 and a beta of 0.83. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06. The firm’s 50-day moving average price is $52.84 and its two-hundred day moving average price is $49.21.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the company earned $1.01 EPS. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.85%. Cisco Systems’s dividend payout ratio is 62.99%.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 165,580 shares in the company, valued at $8,181,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last 90 days. 0.01% of the stock is owned by company insiders.

Analyst Ratings Changes

CSCO has been the subject of several research analyst reports. Evercore ISI lifted their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. Tigress Financial raised their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $56.74.

Cisco Systems 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.