Sterneck Capital Management LLC Increases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Sterneck Capital Management LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,086 shares of the network equipment provider’s stock after purchasing an additional 1,292 shares during the quarter. Sterneck Capital Management LLC’s holdings in Cisco Systems were worth $909,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CSCO. Public Employees Retirement Association of Colorado grew its holdings in Cisco Systems by 4.8% during the first quarter. Public Employees Retirement Association of Colorado now owns 803,429 shares of the network equipment provider’s stock worth $31,583,000 after acquiring an additional 36,521 shares during the period. Gabelli Funds LLC purchased a new position in Cisco Systems during the first quarter worth approximately $468,000. APG Asset Management N.V. lifted its position in Cisco Systems by 83.2% during the first quarter. APG Asset Management N.V. now owns 6,240,073 shares of the network equipment provider’s stock worth $245,297,000 after buying an additional 2,834,587 shares in the last quarter. Aspen Investment Management Inc lifted its position in Cisco Systems by 8.4% during the first quarter. Aspen Investment Management Inc now owns 23,337 shares of the network equipment provider’s stock worth $917,000 after buying an additional 1,805 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Cisco Systems by 1,029.9% during the first quarter. Tower Research Capital LLC TRC now owns 21,299 shares of the network equipment provider’s stock worth $837,000 after buying an additional 19,414 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

A number of equities analysts recently commented on CSCO shares. Barclays downgraded Cisco Systems to a “hold” rating in a research report on Thursday, July 9th. Royal Bank of Canada reiterated a “buy” rating and set a $48.00 price objective on shares of Cisco Systems in a research report on Thursday, August 13th. Robert W. Baird reiterated a “hold” rating and set a $48.00 price objective on shares of Cisco Systems in a research report on Monday, August 10th. ValuEngine downgraded Cisco Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 1st. Finally, JPMorgan Chase & Co. reduced their target price on Cisco Systems from $50.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 13th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the company. Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $47.45.

In other news, CFO Kelly A. Kramer sold 45,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $42.01, for a total transaction of $1,890,450.00. Also, CAO Prat Bhatt sold 2,873 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $42.11, for a total value of $120,982.03. Following the transaction, the chief accounting officer now directly owns 82,006 shares of the company’s stock, valued at $3,453,272.66. The disclosure for this sale can be found here. Insiders have sold a total of 60,166 shares of company stock valued at $2,528,248 over the last three months. 0.03% of the stock is currently owned by insiders.

CSCO opened at $40.16 on Friday. Cisco Systems, Inc. has a 12 month low of $32.40 and a 12 month high of $50.28. The stock has a market capitalization of $170.01 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 2.16 and a beta of 0.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.72 and a quick ratio of 1.67. The business has a fifty day moving average price of $39.95 and a 200 day moving average price of $43.30.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.06. Cisco Systems had a return on equity of 34.75% and a net margin of 22.75%. The firm had revenue of $12.15 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the firm posted $0.83 EPS. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, October 1st. This represents a $1.44 annualized dividend and a yield of 3.59%. Cisco Systems’s payout ratio is 49.32%.

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 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.

Further Reading: Shanghai Stock Exchange Composite Index

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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