SOL Capital Management CO Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

SOL Capital Management CO decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,117 shares of the network equipment provider’s stock after selling 400 shares during the period. SOL Capital Management CO’s holdings in Cisco Systems were worth $1,756,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Boston Partners grew its stake in Cisco Systems by 304.2% during the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after buying an additional 23,002,159 shares during the period. Karp Capital Management Corp purchased a new stake in Cisco Systems during the first quarter worth approximately $109,564,000. Mondrian Investment Partners LTD purchased a new position in shares of Cisco Systems in the first quarter valued at $60,047,000. Achmea Investment Management B.V. purchased a new position in shares of Cisco Systems in the first quarter valued at $31,170,000. Finally, Swedbank boosted its stake in shares of Cisco Systems by 13.1% in the second quarter. Swedbank now owns 6,744,329 shares of the network equipment provider’s stock valued at $211,097,000 after purchasing an additional 778,863 shares during the period. 74.70% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on the stock. Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research note on Thursday, May 18th. Drexel Hamilton reiterated a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a research note on Tuesday, May 23rd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $36.00 price objective on shares of Cisco Systems in a research note on Monday, June 26th. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price objective on the stock in a research note on Wednesday, September 6th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a research note on Thursday, August 17th. Fourteen analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $35.57.

In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total value of $7,785,000.00. Following the completion of the transaction, the insider now directly owns 729,305 shares in the company, valued at $22,710,557.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the transaction, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at $3,847,071.76. The disclosure for this sale can be found here. Insiders sold 420,138 shares of company stock worth $13,239,624 over the last ninety days. 0.11% of the stock is currently owned by insiders.

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Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded up 0.885% during midday trading on Friday, hitting $32.475. 17,727,690 shares of the stock traded hands. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60. The company has a market capitalization of $160.81 billion, a PE ratio of 17.092 and a beta of 1.19. The firm’s 50 day moving average price is $31.63 and its 200 day moving average price is $32.48.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.61. The company had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. Cisco Systems’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. Analysts expect that Cisco Systems, Inc. will post $2.43 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.

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).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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