Larson Financial Group LLC Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Larson Financial Group LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 19.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,688 shares of the network equipment provider’s stock after selling 1,412 shares during the quarter. Larson Financial Group LLC’s holdings in Cisco Systems were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CSCO. Legacy Trust increased its position in shares of Cisco Systems by 12.5% during the third quarter. Legacy Trust now owns 6,908 shares of the network equipment provider’s stock valued at $371,000 after buying an additional 767 shares during the period. Essex LLC increased its position in shares of Cisco Systems by 2.1% during the third quarter. Essex LLC now owns 64,458 shares of the network equipment provider’s stock valued at $3,465,000 after buying an additional 1,333 shares during the period. Guidance Capital Inc. increased its position in shares of Cisco Systems by 6.4% in the third quarter. Guidance Capital Inc. now owns 12,754 shares of the network equipment provider’s stock worth $684,000 after purchasing an additional 768 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its position in shares of Cisco Systems by 3.8% in the third quarter. Onyx Bridge Wealth Group LLC now owns 5,385 shares of the network equipment provider’s stock worth $290,000 after purchasing an additional 197 shares during the last quarter. Finally, Columbia Trust Co 01012016 increased its position in shares of Cisco Systems by 13.8% in the third quarter. Columbia Trust Co 01012016 now owns 7,726 shares of the network equipment provider’s stock worth $415,000 after purchasing an additional 939 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. UBS Group upped their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research report on Monday. They set a “neutral” rating and a $53.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $55.53.

Cisco Systems Trading Up 0.4 %

Shares of NASDAQ:CSCO opened at $48.32 on Wednesday. The stock has a market capitalization of $195.66 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The stock’s 50-day simple moving average is $49.01 and its two-hundred day simple moving average is $50.13. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted 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. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same period in the previous year, the firm earned $0.76 EPS. The business’s quarterly revenue was down 5.9% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s payout ratio is presently 48.63%.

Insider Activity

In related news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock valued at $972,080 in the last ninety days. Corporate insiders own 0.02% 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.