O Brien Greene & Co. Inc Sells 8,494 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

O Brien Greene & Co. Inc decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 142,645 shares of the network equipment provider's stock after selling 8,494 shares during the period. Cisco Systems makes up approximately 2.4% of O Brien Greene & Co. Inc's holdings, making the stock its 16th largest holding. O Brien Greene & Co. Inc's holdings in Cisco Systems were worth $7,592,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in Cisco Systems during the second quarter valued at about $25,000. Quarry LP lifted its stake in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its holdings 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 valued at $31,000 after acquiring an additional 309 shares during the period. Hobbs Group Advisors LLC bought a new position in Cisco Systems during the 2nd quarter worth approximately $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems in the 3rd quarter worth approximately $40,000. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Down 1.6 %

CSCO traded down $0.94 during midday trading on Monday, reaching $58.95. The company's stock had a trading volume of 16,504,366 shares, compared to its average volume of 19,049,408. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.23. The stock's 50-day moving average is $56.53 and its 200-day moving average is $50.96. The firm has a market capitalization of $234.78 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 4.46 and a beta of 0.85. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter last year, the company earned $0.98 EPS. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. As a group, research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's dividend payout ratio (DPR) is 68.67%.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of analyst reports. Piper Sandler increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. UBS Group raised their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Barclays upped their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Wells Fargo & Company upped their price target on Cisco Systems from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Thursday, November 14th. Finally, Citigroup boosted their target price on Cisco Systems from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average target price of $59.94.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares of the company's stock, valued at $2,258,974.53. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 351,860 shares of company stock worth $20,231,558. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Company Profile

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.