Bfsg LLC Sells 67,773 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bfsg LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 75.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,608 shares of the network equipment provider’s stock after selling 67,773 shares during the quarter. Bfsg LLC’s holdings in Cisco Systems were worth $1,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Summit Securities Group LLC bought a new position in Cisco Systems in the 2nd quarter valued at about $25,000. Delos Wealth Advisors LLC increased its stake in Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after acquiring an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Cisco Systems during the fourth quarter valued at approximately $33,000. Retirement Group LLC lifted its stake in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter valued at $36,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value 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 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Up 1.1 %

Shares of CSCO stock traded up $0.54 during mid-day trading on Thursday, hitting $50.39. The company’s stock had a trading volume of 16,322,728 shares, compared to its average volume of 19,729,566. The company has a market cap of $203.01 billion, a PE ratio of 16.97, a P/E/G ratio of 2.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The company’s fifty day simple moving average is $47.48 and its 200-day simple moving average is $47.90. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results 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 business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.18%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research analyst reports. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. Wells Fargo & Company increased their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Rosenblatt Securities raised their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $46.00 to $58.00 in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $55.89.

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 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.