Great Valley Advisor Group Inc. Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Great Valley Advisor Group Inc. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 47.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,424 shares of the network equipment provider’s stock after selling 112,661 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Cisco Systems were worth $5,911,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Delos Wealth Advisors LLC increased its stake in Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares during the period. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $33,000. Bourgeon Capital Management LLC increased its stake in shares of Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares during the last quarter. Retirement Group LLC lifted its position in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 263 shares in the last quarter. Finally, Tidemark LLC acquired a new position in Cisco Systems during the 4th quarter worth approximately $41,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on CSCO. Wells Fargo & Company raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Oppenheimer boosted their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price on the stock. Finally, Piper Sandler reiterated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.47.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded up $0.12 during midday trading on Wednesday, reaching $45.49. 10,663,973 shares of the company’s stock were exchanged, compared to its average volume of 19,591,959. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The company’s 50 day simple moving average is $46.63 and its two-hundred day simple moving average is $47.94. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $58.19. The firm has a market capitalization of $183.27 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter last year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. Equities research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the transaction, the executive vice president now directly owns 180,705 shares in the company, valued at $8,717,209.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the transaction, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock worth $1,908,923 in the last 90 days. 0.02% of the stock is owned by company insiders.

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.