Foster & Motley Inc. Sells 15,284 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Foster & Motley Inc. trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,687 shares of the network equipment provider's stock after selling 15,284 shares during the quarter. Foster & Motley Inc.'s holdings in Cisco Systems were worth $10,734,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of Cisco Systems during the second quarter worth about $25,000. Quarry LP raised its holdings in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC lifted its position in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Cisco Systems in the 2nd quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC grew its position in Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock valued at $42,000 after acquiring an additional 766 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company's stock, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the business's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares of the company's stock, valued at $8,181,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 in the last ninety days. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

Shares of CSCO stock traded up $1.71 during midday trading on Wednesday, reaching $57.87. 19,810,330 shares of the company were exchanged, compared to its average volume of 18,983,172. The company's 50 day moving average price is $52.84 and its two-hundred day moving average price is $49.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The company has a market cap of $230.94 billion, a P/E ratio of 22.11, a PEG ratio of 4.60 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $58.08.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 earnings per share. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems's dividend payout ratio (DPR) is currently 62.99%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CSCO shares. Rosenblatt Securities upped their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a "neutral" rating in a research note on Thursday, August 15th. Barclays decreased their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating for the company in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. HSBC raised Cisco Systems from a "hold" rating to a "buy" rating and increased their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Finally, Citigroup upgraded Cisco Systems from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $56.74.

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.