Foster Victor Wealth Advisors LLC Sells 77,823 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Foster Victor Wealth Advisors LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 27.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 210,156 shares of the network equipment provider’s stock after selling 77,823 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Cisco Systems were worth $12,658,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP lifted its position in shares of Cisco Systems by 222.4% during the second 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. Gateway Wealth Partners LLC increased its stake in Cisco Systems by 14.3% in the 2nd quarter. Gateway Wealth Partners LLC now owns 5,576 shares of the network equipment provider’s stock worth $265,000 after buying an additional 698 shares during the period. Pathway Financial Advisers LLC lifted its holdings in Cisco Systems by 0.3% during the 2nd quarter. Pathway Financial Advisers LLC now owns 92,565 shares of the network equipment provider’s stock valued at $4,392,000 after buying an additional 321 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new stake in Cisco Systems in the 2nd quarter valued at about $3,358,000. Finally, Ariadne Wealth Management LP bought a new position in Cisco Systems in the 2nd quarter worth about $264,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 353,522 shares of company stock worth $20,349,721. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 0.6 %

Cisco Systems stock opened at $59.43 on Wednesday. The business has a fifty day moving average price of $59.30 and a 200-day moving average price of $54.32. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $62.31. The stock has a market capitalization of $236.70 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 4.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.69%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analysts Set New Price Targets

CSCO has been the subject of several research analyst reports. Tigress Financial lifted their price target 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. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $55.00 to $66.00 in a report on Monday, November 11th. Finally, StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.72.

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.