Boyar Asset Management Inc. Lowers Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Boyar Asset Management Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,657 shares of the network equipment provider’s stock after selling 1,363 shares during the quarter. Cisco Systems comprises approximately 2.1% of Boyar Asset Management Inc.’s portfolio, making the stock its 11th biggest holding. Boyar Asset Management Inc.’s holdings in Cisco Systems were worth $3,335,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tudor Financial Inc. purchased a new stake in shares of Cisco Systems during the 3rd quarter valued at $1,097,000. SkyView Investment Advisors LLC boosted its holdings in Cisco Systems by 4.5% in the third quarter. SkyView Investment Advisors LLC now owns 10,188 shares of the network equipment provider’s stock valued at $542,000 after acquiring an additional 440 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Cisco Systems during the third quarter valued at about $798,000. Advisory Resource Group increased its stake in Cisco Systems by 1.9% during the third quarter. Advisory Resource Group now owns 97,718 shares of the network equipment provider’s stock worth $5,201,000 after acquiring an additional 1,784 shares during the last quarter. Finally, Hohimer Wealth Management LLC raised its holdings in shares of Cisco Systems by 24.7% in the 3rd quarter. Hohimer Wealth Management LLC now owns 104,481 shares of the network equipment provider’s stock worth $5,560,000 after purchasing an additional 20,679 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of research reports. Citigroup boosted their target price on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Wells Fargo & Company raised their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Tigress Financial upped their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $59.94.

Cisco Systems Stock Down 0.2 %

CSCO stock opened at $58.59 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $56.89 and a 200-day simple moving average of $51.19. The company has a market capitalization of $233.35 billion, a P/E ratio of 25.15, a PEG ratio of 4.39 and a beta of 0.85. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.23.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. On average, equities research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Insiders Place Their Bets

In other news, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the transaction, the director now directly owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. The trade was a 10.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the sale, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 349,894 shares of company stock valued at $20,135,273 in the last quarter. Insiders own 0.01% of the company’s stock.

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.