Capital Advantage Inc. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 37.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,848 shares of the network equipment provider’s stock after selling 7,083 shares during the period. Capital Advantage Inc.’s holdings in Cisco Systems were worth $398,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Barnett & Company Inc. lifted its stake in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after acquiring an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in shares of Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after buying an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Cisco Systems in the second quarter worth $104,000. Grove Bank & Trust lifted its stake in shares of Cisco Systems by 141.3% in the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after buying an additional 2,120 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its stake in shares of Cisco Systems by 10.7% in the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after buying an additional 350 shares during the last quarter. 75.60% of the stock is currently owned by institutional investors.
In related news, insider John T. Chambers sold 250,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the sale, the insider now directly owns 712,736 shares in the company, valued at approximately $26,014,864. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the sale, the senior vice president now owns 257,476 shares in the company, valued at $9,892,227.92. The disclosure for this sale can be found here. Insiders sold a total of 348,643 shares of company stock worth $12,892,271 over the last quarter. 0.05% of the stock is currently owned by corporate insiders.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The company had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the company posted $0.61 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. research analysts expect that Cisco Systems, Inc. will post 2.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be given a $0.29 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.84%. Cisco Systems’s dividend payout ratio is 60.10%.
CSCO has been the topic of a number of research reports. BMO Capital Markets reaffirmed a “hold” rating and set a $32.00 target price on shares of Cisco Systems in a research report on Thursday, September 28th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $44.00 target price on shares of Cisco Systems in a research report on Wednesday, January 10th. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 target price on the stock. in a research report on Monday, September 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Tuesday, September 19th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $35.00 price target on shares of Cisco Systems in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $37.93.
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Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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