Adero Partners LLC Sells 1,453 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Adero Partners LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,236 shares of the network equipment provider’s stock after selling 1,453 shares during the quarter. Adero Partners LLC’s holdings in Cisco Systems were worth $385,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in Cisco Systems during the 2nd quarter worth about $25,000. Quarry LP raised its holdings in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC raised its holdings in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the 2nd quarter worth about $36,000. Finally, Iron Horse Wealth Management LLC raised its holdings in Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after purchasing an additional 766 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. This represents a 5.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,924 shares of company stock worth $1,798,131 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.8 %

NASDAQ:CSCO opened at $57.46 on Friday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.38. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $54.18 and a two-hundred day moving average price of $49.78. The company has a market cap of $229.31 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 4.76 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the prior year, the business posted $1.01 EPS. The business’s revenue was down 10.3% compared to the same quarter last year. As a group, analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analyst Upgrades and Downgrades

CSCO has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group decreased their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.42.

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.