FCF Advisors LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 46.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,406 shares of the network equipment provider's stock after selling 39,865 shares during the period. Cisco Systems makes up 1.2% of FCF Advisors LLC's holdings, making the stock its 17th largest position. FCF Advisors LLC's holdings in Cisco Systems were worth $1,936,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Old Port Advisors increased its position in shares of Cisco Systems by 0.4% in the first quarter. Old Port Advisors now owns 54,035 shares of the network equipment provider's stock worth $3,008,000 after purchasing an additional 195 shares during the last quarter. Diligent Investors LLC grew its position in Cisco Systems by 0.7% during the first quarter. Diligent Investors LLC now owns 27,490 shares of the network equipment provider's stock valued at $1,533,000 after acquiring an additional 198 shares during the last quarter. Baldwin Brothers LLC MA grew its position in Cisco Systems by 26.1% during the first quarter. Baldwin Brothers LLC MA now owns 965 shares of the network equipment provider's stock valued at $54,000 after acquiring an additional 200 shares during the last quarter. Madison Wealth Partners Inc grew its position in Cisco Systems by 5.1% during the first quarter. Madison Wealth Partners Inc now owns 4,231 shares of the network equipment provider's stock valued at $236,000 after acquiring an additional 206 shares during the last quarter. Finally, TCM Advisors LLC grew its position in Cisco Systems by 0.9% during the first quarter. TCM Advisors LLC now owns 22,633 shares of the network equipment provider's stock valued at $1,262,000 after acquiring an additional 207 shares during the last quarter. 71.71% of the stock is owned by institutional investors and hedge funds.
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Insiders Place Their Bets
In other Cisco Systems news, SVP Prat Bhatt sold 19,168 shares of the business's stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total value of $848,759.04. Following the completion of the transaction, the senior vice president now owns 38,158 shares of the company's stock, valued at approximately $1,689,636.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cisco Systems news, SVP Prat Bhatt sold 19,168 shares of the business's stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total value of $848,759.04. Following the completion of the transaction, the senior vice president now owns 38,158 shares of the company's stock, valued at approximately $1,689,636.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffery S. Sharritts sold 12,838 shares of the business's stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $47.86, for a total value of $614,426.68. Following the completion of the transaction, the executive vice president now directly owns 167,532 shares of the company's stock, valued at approximately $8,018,081.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,317 shares of company stock valued at $2,612,042. 0.02% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of research analysts have commented on CSCO shares. TheStreet cut shares of Cisco Systems from a "b" rating to a "c+" rating in a research report on Wednesday, June 15th. Barclays cut shares of Cisco Systems from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $56.00 to $46.00 in a report on Wednesday, September 21st. UBS Group lifted their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the stock a "neutral" rating in a research note on Thursday, August 18th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $51.00 to $54.00 in a research note on Friday, August 19th. Finally, Cowen lifted their target price on shares of Cisco Systems from $58.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.68.
Cisco Systems Price Performance
CSCO opened at $41.34 on Thursday. The stock has a 50-day moving average price of $44.89 and a 200-day moving average price of $47.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.33. The firm has a market cap of $169.86 billion, a PE ratio of 14.66, a P/E/G ratio of 1.87 and a beta of 0.96. Cisco Systems, Inc. has a 1 year low of $40.12 and a 1 year high of $64.29.
Cisco Systems (NASDAQ:CSCO – Get Rating) last posted its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The firm had revenue of $13.10 billion during the quarter, compared to analyst estimates of $12.78 billion. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. Cisco Systems's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 EPS. Sell-side analysts predict that Cisco Systems, Inc. will post 3.1 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Tuesday, October 4th. Cisco Systems's dividend payout ratio is presently 53.90%.
Cisco Systems Company Profile
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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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