Gould Capital LLC Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Gould Capital LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 98.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 639 shares of the network equipment provider’s stock after selling 59,071 shares during the period. Gould Capital LLC’s holdings in Cisco Systems were worth $34,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CSCO. Aviso Wealth Management boosted its stake in shares of Cisco Systems by 2.4% in the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after buying an additional 181 shares during the last quarter. Waypoint Capital Advisors LLC lifted its holdings in Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after acquiring an additional 182 shares during the period. Andina Capital Management LLC lifted its holdings in Cisco Systems by 3.6% in the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after acquiring an additional 182 shares during the period. Wealth Dimensions Group Ltd. grew its stake in shares of Cisco Systems by 1.6% during the 3rd quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider’s stock worth $605,000 after purchasing an additional 182 shares during the period. Finally, Meridian Financial Partners LLC increased its holdings in shares of Cisco Systems by 3.8% during the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after purchasing an additional 185 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 1.6 %

CSCO stock opened at $58.95 on Tuesday. The company has a market cap of $234.78 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 4.46 and a beta of 0.85. The firm has a 50-day moving average of $56.65 and a two-hundred day moving average of $51.05. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.23. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. As a group, analysts forecast 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. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. UBS Group raised their target price on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Bank of America lifted their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Tigress Financial increased their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Barclays boosted their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 351,860 shares of company stock worth $20,231,558. 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.