Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Cherry Creek Investment Advisors Inc.

Cherry Creek Investment Advisors Inc. lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,937 shares of the network equipment provider’s stock after selling 1,008 shares during the quarter. Cherry Creek Investment Advisors Inc.’s holdings in Cisco Systems were worth $704,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Kathleen S. Wright Associates Inc. acquired a new stake in Cisco Systems in the 3rd quarter worth about $27,000. Valued Wealth Advisors LLC acquired a new stake in Cisco Systems in the 4th quarter worth about $32,000. Fortis Capital Advisors LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth about $34,000. Hibernia Wealth Partners LLC purchased a new position in shares of Cisco Systems in the 3rd quarter worth about $42,000. Finally, VitalStone Financial LLC acquired a new position in Cisco Systems during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 1.8 %

Cisco Systems stock traded down $0.89 during midday trading on Wednesday, reaching $49.12. The company’s stock had a trading volume of 10,876,141 shares, compared to its average volume of 19,684,309. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The company has a market cap of $198.90 billion, a P/E ratio of 14.86, a P/E/G ratio of 2.18 and a beta of 0.87. The business has a 50-day simple moving average of $49.31 and a 200-day simple moving average of $50.49.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 3.16 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be given a dividend of $0.40 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s payout ratio is currently 48.63%.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 in the last ninety days. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Melius Research reissued a “hold” rating and issued a $55.00 price target on shares of Cisco Systems in a report on Monday, January 8th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Morgan Stanley assumed coverage on shares of Cisco Systems in a research report on Tuesday. They issued an “overweight” rating and a $58.00 price target on the stock. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.19.

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.