HBK Sorce Advisory LLC Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

HBK Sorce Advisory LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 18.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,184 shares of the network equipment provider’s stock after selling 8,384 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Cisco Systems were worth $1,067,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC acquired a new stake in shares of Cisco Systems during the second quarter valued at about $33,000. Lowe Wealth Advisors LLC acquired a new position in Cisco Systems in the second quarter worth about $38,000. Personal Wealth Partners acquired a new position in Cisco Systems in the second quarter worth about $44,000. Ashburton Jersey Ltd acquired a new position in Cisco Systems in the second quarter worth about $49,000. Finally, Cohen & Steers Inc. acquired a new position in Cisco Systems in the fourth quarter worth about $51,000. 73.31% of the stock is currently owned by institutional investors.

NASDAQ CSCO traded down $0.16 on Wednesday, hitting $49.25. 2,226,579 shares of the stock were exchanged, compared to its average volume of 17,335,470. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $58.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46. The company has a market capitalization of $212.39 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 2.33 and a beta of 1.27. The company’s 50-day moving average price is $49.77 and its two-hundred day moving average price is $53.68.



Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The firm had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. During the same period in the previous year, the company posted $0.70 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts predict that Cisco Systems, Inc. will post 3.06 EPS for the current fiscal year.

In other Cisco Systems news, CEO Charles Robbins sold 18,955 shares of Cisco Systems stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $50.04, for a total transaction of $948,508.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark D. Chandler sold 546 shares of Cisco Systems stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $47.92, for a total transaction of $26,164.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,234 shares of company stock worth $4,782,259. Corporate insiders own 0.03% of the company’s stock.

A number of equities analysts recently commented on the company. MKM Partners decreased their price target on Cisco Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Credit Suisse Group set a $50.00 price target on Cisco Systems and gave the stock a “neutral” rating in a research note on Tuesday, August 27th. ValuEngine downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Evercore ISI assumed coverage on Cisco Systems in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $60.00 price target for the company. Finally, Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $56.60.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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