Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Synergy Asset Management LLC

Synergy Asset Management LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 86.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,323 shares of the network equipment provider’s stock after selling 48,235 shares during the quarter. Synergy Asset Management LLC’s holdings in Cisco Systems were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CSCO. Summit Securities Group LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at about $25,000. Retirement Group LLC grew its position in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. Tidemark LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $41,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Cisco Systems in the 1st quarter valued at approximately $41,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares in the company, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders have sold 71,944 shares of company stock valued at $3,566,120 over the last three months. 0.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent research reports. Oppenheimer upped their price objective on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Wells Fargo & Company lifted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average price target of $55.89.

Cisco Systems Trading Down 0.5 %

NASDAQ:CSCO traded down $0.27 on Friday, hitting $48.86. 1,426,490 shares of the stock were exchanged, compared to its average volume of 19,532,133. The stock has a market cap of $196.85 billion, a PE ratio of 16.54, a PEG ratio of 3.98 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average of $47.82 and a 200-day moving average of $47.94. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.09.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The company 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 27.83% and a net margin of 19.18%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.27%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Cisco Systems 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.