Highland Capital Management LLC Has $5.70 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Highland Capital Management LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,601 shares of the network equipment provider’s stock after selling 5,670 shares during the period. Highland Capital Management LLC’s holdings in Cisco Systems were worth $5,697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Old Port Advisors grew its position in Cisco Systems by 0.4% during the 1st quarter. Old Port Advisors now owns 54,035 shares of the network equipment provider’s stock valued at $3,008,000 after purchasing an additional 195 shares during the last quarter. Diligent Investors LLC lifted its stake in Cisco Systems by 0.7% during the 1st quarter. Diligent Investors LLC now owns 27,490 shares of the network equipment provider’s stock valued at $1,533,000 after acquiring an additional 198 shares during the period. Baldwin Brothers LLC MA lifted its stake in Cisco Systems by 26.1% during the 1st quarter. Baldwin Brothers LLC MA now owns 965 shares of the network equipment provider’s stock valued at $54,000 after acquiring an additional 200 shares during the period. Madison Wealth Partners Inc lifted its stake in Cisco Systems by 5.1% during the 1st quarter. Madison Wealth Partners Inc now owns 4,231 shares of the network equipment provider’s stock valued at $236,000 after acquiring an additional 206 shares during the period. Finally, TCM Advisors LLC lifted its stake in Cisco Systems by 0.9% during the 1st quarter. TCM Advisors LLC now owns 22,633 shares of the network equipment provider’s stock valued at $1,262,000 after acquiring an additional 207 shares during the period. Institutional investors and hedge funds own 71.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CSCO. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $51.00 to $54.00 in a research note on Friday, August 19th. Citigroup upped their target price on shares of Cisco Systems from $40.00 to $44.00 and gave the company a “sell” rating in a research note on Thursday, August 18th. KGI Securities upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 31st. TheStreet cut shares of Cisco Systems from a “b” rating to a “c+” rating in a research note on Wednesday, June 15th. Finally, UBS Group increased their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $54.10.

Insider Activity at Cisco Systems

In related news, COO Maria Martinez sold 2,831 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $48.39, for a total value of $136,992.09. Following the completion of the transaction, the chief operating officer now directly owns 278,012 shares of the company’s stock, valued at $13,453,000.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Prat Bhatt sold 19,168 shares of the firm’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total value of $848,759.04. Following the completion of the transaction, the senior vice president now directly owns 38,158 shares of the company’s stock, valued at $1,689,636.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Maria Martinez sold 2,831 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $48.39, for a total value of $136,992.09. Following the completion of the sale, the chief operating officer now owns 278,012 shares of the company’s stock, valued at $13,453,000.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,317 shares of company stock valued at $2,612,042. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Trading Down 1.1 %

Shares of CSCO opened at $41.15 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.33. Cisco Systems, Inc. has a 1 year low of $40.82 and a 1 year high of $64.29. The company has a 50 day simple moving average of $45.11 and a two-hundred day simple moving average of $47.52. The firm has a market cap of $169.08 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Cisco Systems had a net margin of 22.91% and a return on equity of 31.12%. The business had revenue of $13.10 billion during the quarter, compared to analyst estimates of $12.78 billion. During the same period last year, the firm posted $0.76 EPS. The company’s revenue was down .2% on a year-over-year basis. On average, equities analysts expect that Cisco Systems, Inc. will post 3.1 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Tuesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.90%.

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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

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