Sovereign Financial Group Inc. Sells 975 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sovereign Financial Group Inc. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,411 shares of the network equipment provider’s stock after selling 975 shares during the period. Sovereign Financial Group Inc.’s holdings in Cisco Systems were worth $475,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Valued Wealth Advisors LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth approximately $32,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at $33,000. Morton Brown Family Wealth LLC raised its position in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. Bourgeon Capital Management LLC boosted its stake in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in Cisco Systems during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO stock traded up $0.17 during trading on Tuesday, reaching $47.28. The company’s stock had a trading volume of 13,974,175 shares, compared to its average volume of 19,064,670. The company’s fifty day moving average is $48.75 and its 200-day moving average is $49.69. Cisco Systems, Inc. has a 1 year low of $45.70 and a 1 year high of $58.19. The company has a market capitalization of $191.45 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 2.72 and a beta of 0.87. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.76 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were given a $0.40 dividend. This is an increase 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 3.38%. The ex-dividend date of this dividend was Wednesday, April 3rd. Cisco Systems’s payout ratio is currently 48.63%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other 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 completion of the transaction, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 in the last quarter. 0.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CSCO. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. UBS Group upped their price target on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Barclays lifted their price objective on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Finally, Piper Sandler upped their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $55.53.

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.