Sfmg LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 18.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 91,533 shares of the network equipment provider's stock after selling 20,252 shares during the period. Sfmg LLC's holdings in Cisco Systems were worth $4,871,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. Aviso Wealth Management grew its stake in Cisco Systems by 2.4% in the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider's stock valued at $405,000 after purchasing an additional 181 shares in the last quarter. Waypoint Capital Advisors LLC grew its stake in Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider's stock valued at $346,000 after purchasing an additional 182 shares in the last quarter. Andina Capital Management LLC grew its stake in Cisco Systems by 3.6% in the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider's stock valued at $279,000 after purchasing an additional 182 shares in the last quarter. Wealth Dimensions Group Ltd. lifted its position in shares of Cisco Systems by 1.6% in the third quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider's stock valued at $605,000 after buying an additional 182 shares during the last quarter. Finally, Meridian Financial Partners LLC lifted its position in shares of Cisco Systems by 3.8% in the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider's stock valued at $267,000 after buying an additional 185 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Cisco Systems news, SVP Maria Victoria Wong sold 4,881 shares of the company's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the sale, the senior vice president now owns 51,931 shares in the company, valued at approximately $3,101,838.63. The trade was a 8.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $3,345,228.12. Following the completion of the sale, the executive vice president now owns 219,100 shares in the company, valued at $12,596,059. This trade represents a 20.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 349,894 shares of company stock worth $20,135,273 in the last 90 days. Insiders own 0.01% of the company's stock.
Cisco Systems Price Performance
Shares of CSCO traded up $0.26 during midday trading on Thursday, hitting $58.85. The company's stock had a trading volume of 17,649,973 shares, compared to its average volume of 19,094,416. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The company's fifty day simple moving average is $56.89 and its two-hundred day simple moving average is $51.19. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $234.39 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 4.39 and a beta of 0.85.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $13.78 billion. During the same quarter last year, the company posted $0.98 EPS. The company's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal 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. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. Cisco Systems's dividend payout ratio is currently 68.67%.
Analyst Ratings Changes
A number of research firms have recently issued reports on CSCO. UBS Group raised their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Wells Fargo & Company raised their price objective 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. Barclays raised their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an "equal weight" rating in a research report on Thursday, November 14th. Evercore ISI lifted their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. raised Cisco Systems from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.94.
Check Out Our Latest Research Report on CSCO
About Cisco Systems
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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. 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.
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