RDA Financial Network Sells 376 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

RDA Financial Network trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,716 shares of the network equipment provider’s stock after selling 376 shares during the period. RDA Financial Network’s holdings in Cisco Systems were worth $486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. MFA Wealth Advisors LLC purchased a new stake in Cisco Systems in the 3rd quarter worth about $119,000. Voloridge Investment Management LLC purchased a new stake in Cisco Systems in the 3rd quarter worth about $1,290,000. Schonfeld Strategic Advisors LLC increased its holdings in Cisco Systems by 45.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 48,400 shares of the network equipment provider’s stock worth $2,634,000 after acquiring an additional 15,049 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in Cisco Systems by 35.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 18,441 shares of the network equipment provider’s stock valued at $1,004,000 after buying an additional 4,845 shares in the last quarter. Finally, Studio Investment Management LLC purchased a new position in Cisco Systems during the 3rd quarter valued at about $2,196,000. Institutional investors own 73.18% of the company’s stock.

In related news, CEO Charles Robbins sold 12,717 shares of the company’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total value of $556,877.43. Following the sale, the chief executive officer now directly owns 651,577 shares of the company’s stock, valued at $28,532,556.83. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Maria Martinez sold 3,628 shares of the company’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $43.34, for a total value of $157,237.52. Following the completion of the sale, the chief operating officer now directly owns 295,305 shares in the company, valued at $12,798,518.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,326 shares of company stock worth $1,103,159. 0.02% of the stock is owned by insiders.

CSCO has been the subject of several recent analyst reports. Cowen cut their price objective on Cisco Systems to $58.00 and set a “neutral” rating for the company in a report on Thursday, May 19th. TheStreet lowered Cisco Systems from a “b” rating to a “c+” rating in a report on Wednesday, June 15th. KGI Securities raised Cisco Systems from a “neutral” rating to an “outperform” rating in a report on Thursday, May 19th. StockNews.com initiated coverage on Cisco Systems in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Morgan Stanley dropped their target price on Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.05.

Shares of Cisco Systems stock opened at $43.57 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. The company has a market cap of $180.42 billion, a PE ratio of 15.29, a P/E/G ratio of 2.27 and a beta of 0.99. The business has a 50 day moving average of $47.24 and a 200 day moving average of $53.77. Cisco Systems, Inc. has a 52 week low of $41.02 and a 52 week high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same quarter in the prior year, the firm earned $0.75 earnings per share. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.99 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be paid a $0.38 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $1.52 annualized dividend and a yield of 3.49%. Cisco Systems’s payout ratio is 53.33%.

Cisco Systems Profile (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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