Allred Capital Management LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,672 shares of the network equipment provider’s stock after selling 1,107 shares during the period. Allred Capital Management LLC’s holdings in Cisco Systems were worth $696,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Hoey Investments Inc. acquired a new position in Cisco Systems in the second quarter valued at approximately $26,000. FNY Investment Advisers LLC lifted its holdings in Cisco Systems by 79,900.0% in the third quarter. FNY Investment Advisers LLC now owns 800 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 799 shares during the period. Emerald Advisers LLC acquired a new position in Cisco Systems in the second quarter valued at approximately $38,000. Larson Financial Group LLC lifted its holdings in Cisco Systems by 61.1% in the second quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock valued at $44,000 after buying an additional 356 shares during the period. Finally, Ovata Capital Management Ltd acquired a new position in Cisco Systems in the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 71.28% of the company’s stock.
Shares of NASDAQ CSCO opened at $40.16 on Friday. The company has a market capitalization of $170.01 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. Cisco Systems, Inc. has a 52-week low of $32.40 and a 52-week high of $50.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.67 and a current ratio of 1.72. The company’s 50 day moving average price is $39.95 and its 200-day moving average price is $43.30.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.06. The firm had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $12.09 billion. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. During the same quarter in the previous year, the company earned $0.83 EPS. Analysts forecast that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Friday, October 2nd will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.59%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.32%.
In related news, CAO Prat Bhatt sold 2,873 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $42.11, for a total transaction of $120,982.03. Following the transaction, the chief accounting officer now owns 82,006 shares in the company, valued at approximately $3,453,272.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Irving Tan sold 4,141 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $42.08, for a total transaction of $174,253.28. Following the transaction, the executive vice president now owns 125,860 shares in the company, valued at approximately $5,296,188.80. The disclosure for this sale can be found here. Insiders sold a total of 60,166 shares of company stock worth $2,528,248 in the last 90 days. Corporate insiders own 0.03% of the company’s stock.
Several brokerages recently weighed in on CSCO. Wolfe Research lowered shares of Cisco Systems from an “outperform” rating to a “peer perform” rating and set a $42.00 price objective on the stock. in a report on Friday, September 18th. BidaskClub downgraded shares of Cisco Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Barclays downgraded shares of Cisco Systems to a “hold” rating in a research note on Thursday, July 9th. Bank of America lowered their price objective on shares of Cisco Systems from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, September 16th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $48.00 price target on shares of Cisco Systems in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Hold” and a consensus target price of $47.45.
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 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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