Annex Advisory Services LLC Sells 988 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Annex Advisory Services LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,884 shares of the network equipment provider’s stock after selling 988 shares during the quarter. Annex Advisory Services LLC’s holdings in Cisco Systems were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CSCO. Seven Eight Capital LP bought a new position in Cisco Systems during the second quarter valued at $242,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Cisco Systems by 27.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 220,894 shares of the network equipment provider’s stock valued at $10,495,000 after acquiring an additional 47,590 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Cisco Systems by 3.8% in the second quarter. EverSource Wealth Advisors LLC now owns 14,811 shares of the network equipment provider’s stock valued at $718,000 after acquiring an additional 540 shares during the period. DRW Securities LLC raised its stake in shares of Cisco Systems by 90.2% in the second quarter. DRW Securities LLC now owns 22,283 shares of the network equipment provider’s stock valued at $1,059,000 after acquiring an additional 10,567 shares during the period. Finally, Certified Advisory Corp raised its stake in shares of Cisco Systems by 9.7% in the second quarter. Certified Advisory Corp now owns 6,075 shares of the network equipment provider’s stock valued at $289,000 after acquiring an additional 538 shares during the period. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CSCO shares. Bank of America increased their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Citigroup increased their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company increased their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. UBS Group increased their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Cisco Systems Trading Up 0.7 %

NASDAQ CSCO opened at $60.23 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 company has a market capitalization of $239.88 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company’s 50-day simple moving average is $58.91 and its two-hundred day simple moving average is $53.61. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.95.

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

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the sale, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction that occurred 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 of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 353,522 shares of company stock worth $20,349,721. Corporate insiders own 0.01% of the company’s stock.

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.