Eagle Bay Advisors LLC Sells 556 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Eagle Bay Advisors LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,256 shares of the network equipment provider’s stock after selling 556 shares during the period. Eagle Bay Advisors LLC’s holdings in Cisco Systems were worth $392,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Atomi Financial Group Inc. boosted its stake in Cisco Systems by 21.2% during the 2nd quarter. Atomi Financial Group Inc. now owns 16,126 shares of the network equipment provider’s stock valued at $766,000 after purchasing an additional 2,822 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Cisco Systems by 2.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 807,886 shares of the network equipment provider’s stock valued at $38,383,000 after buying an additional 23,019 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the second quarter valued at $25,000. GAM Holding AG increased its holdings in Cisco Systems by 5.9% in the 2nd quarter. GAM Holding AG now owns 191,415 shares of the network equipment provider’s stock worth $9,094,000 after buying an additional 10,726 shares in the last quarter. Finally, Pioneer Trust Bank N A OR lifted its stake in Cisco Systems by 0.7% during the 2nd quarter. Pioneer Trust Bank N A OR now owns 116,184 shares of the network equipment provider’s stock valued at $5,520,000 after acquiring an additional 845 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Cisco Systems stock traded down $0.08 during mid-day trading on Tuesday, hitting $50.71. The stock had a trading volume of 10,243,354 shares, compared to its average volume of 19,780,695. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $47.30 and its 200 day moving average is $47.88. The firm has a market capitalization of $204.30 billion, a P/E ratio of 17.07, a P/E/G ratio of 2.97 and a beta of 0.85. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 earnings per share. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research analyst reports. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.89.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the sale, the senior vice president now directly owns 52,953 shares in the company, valued at $2,430,013.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,274 shares of company stock valued at $4,764,829. 0.02% of the stock is currently 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.