Soltis Investment Advisors LLC Trims Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Soltis Investment Advisors LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,846 shares of the network equipment provider’s stock after selling 2,084 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Cisco Systems were worth $642,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Elser Financial Planning Inc purchased a new position in Cisco Systems during the fourth quarter worth about $289,000. Opal Wealth Advisors LLC grew its position in Cisco Systems by 7.1% during the fourth quarter. Opal Wealth Advisors LLC now owns 11,775 shares of the network equipment provider’s stock worth $697,000 after buying an additional 783 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in Cisco Systems during the fourth quarter worth about $113,000. Wagner Wealth Management LLC purchased a new position in Cisco Systems during the fourth quarter worth about $299,000. Finally, Angeles Wealth Management LLC grew its position in Cisco Systems by 42.4% during the fourth quarter. Angeles Wealth Management LLC now owns 19,324 shares of the network equipment provider’s stock worth $1,144,000 after buying an additional 5,755 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Wells Fargo & Company lifted their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Morgan Stanley lifted their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $62.72.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,522 shares of company stock valued at $20,349,721. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 0.9 %

Shares of NASDAQ CSCO opened at $62.81 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm has a market capitalization of $250.16 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 4.63 and a beta of 0.84. The stock has a 50 day moving average price of $59.71 and a 200 day moving average price of $55.10. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $63.25.

Cisco Systems (NASDAQ:CSCO) last posted its 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 company had revenue of $13.84 billion during 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%. Cisco Systems’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. Sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

About Cisco Systems

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.