JB Capital LLC Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

JB Capital LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 95.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,407 shares of the network equipment provider’s stock after selling 177,065 shares during the period. JB Capital LLC’s holdings in Cisco Systems were worth $399,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Unique Wealth Strategies LLC acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $114,000. Corundum Trust Company INC acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $372,000. DT Investment Partners LLC raised its stake in shares of Cisco Systems by 2.3% during the 2nd quarter. DT Investment Partners LLC now owns 24,953 shares of the network equipment provider’s stock worth $1,186,000 after buying an additional 566 shares during the period. &PARTNERS raised its stake in shares of Cisco Systems by 226.5% during the 2nd quarter. &PARTNERS now owns 211,190 shares of the network equipment provider’s stock worth $10,026,000 after buying an additional 146,503 shares during the period. Finally, Boothe Investment Group Inc. raised its stake in shares of Cisco Systems by 28.5% during the 2nd quarter. Boothe Investment Group Inc. now owns 35,823 shares of the network equipment provider’s stock worth $1,702,000 after buying an additional 7,952 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.0 %

Shares of NASDAQ CSCO traded up $0.52 during mid-day trading on Friday, reaching $50.74. 16,474,069 shares of the company’s stock were exchanged, compared to its average volume of 19,887,607. The firm has a market capitalization of $204.42 billion, a price-to-earnings ratio of 17.08, a PEG 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. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $58.19. The company’s 50-day moving average is $47.20 and its 200-day moving average is $47.90.

Cisco Systems (NASDAQ:CSCO) last released its quarterly 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. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the prior year, the business posted $1.01 EPS. The company’s revenue was down 10.3% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler reissued a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Jefferies Financial Group reduced their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.89.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The disclosure for this sale can be found here. Insiders sold 98,274 shares of company stock worth $4,764,829 in the last three months. 0.02% of the stock is owned by company insiders.

Cisco Systems Company 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.