Telos Capital Management Inc. Lowers Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Telos Capital Management Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 44.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,575 shares of the network equipment provider’s stock after selling 108,170 shares during the quarter. Telos Capital Management Inc.’s holdings in Cisco Systems were worth $7,056,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after purchasing an additional 288,775 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after buying an additional 51,924 shares during the last quarter. Valmark Advisers Inc. boosted its holdings in Cisco Systems by 4.7% in the second quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock worth $1,941,000 after acquiring an additional 1,820 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Cisco Systems by 2.4% in the first quarter. Cornerstone Wealth Management LLC now owns 38,053 shares of the network equipment provider’s stock worth $1,899,000 after acquiring an additional 889 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its holdings in shares of Cisco Systems by 8.3% during the second quarter. EP Wealth Advisors LLC now owns 1,262,765 shares of the network equipment provider’s stock valued at $59,994,000 after acquiring an additional 97,087 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

NASDAQ CSCO opened at $56.59 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The business’s fifty day moving average is $51.41 and its 200 day moving average is $48.66. The company has a market capitalization of $227.99 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the company posted $1.01 EPS. The firm’s revenue was down 10.3% on a year-over-year basis. Sell-side analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analyst Ratings Changes

CSCO has been the topic of several recent analyst reports. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Evercore ISI boosted their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $56.74.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.02% of the company’s stock.

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.