Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Carson Advisory Inc.

Carson Advisory Inc. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,781 shares of the network equipment provider’s stock after selling 647 shares during the quarter. Carson Advisory Inc.’s holdings in Cisco Systems were worth $308,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Applied Finance Capital Management LLC boosted its stake in shares of Cisco Systems by 8.2% during the third quarter. Applied Finance Capital Management LLC now owns 1,243,279 shares of the network equipment provider’s stock worth $66,167,000 after buying an additional 94,544 shares during the period. Holistic Planning LLC raised its stake in Cisco Systems by 12.5% during the 3rd quarter. Holistic Planning LLC now owns 6,977 shares of the network equipment provider’s stock valued at $371,000 after acquiring an additional 773 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in Cisco Systems during the 3rd quarter worth approximately $7,186,000. Equitable Trust Co. grew its stake in shares of Cisco Systems by 12.1% in the 3rd quarter. Equitable Trust Co. now owns 60,753 shares of the network equipment provider’s stock valued at $3,233,000 after purchasing an additional 6,555 shares during the last quarter. Finally, Leavell Investment Management Inc. increased its holdings in shares of Cisco Systems by 29.8% in the third quarter. Leavell Investment Management Inc. now owns 83,559 shares of the network equipment provider’s stock valued at $4,447,000 after purchasing an additional 19,169 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were 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 directly owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated 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 sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents 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. 0.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CSCO. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. Rosenblatt Securities boosted their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Jefferies Financial Group reduced their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.74.

Cisco Systems Stock Performance

Shares of CSCO opened at $58.06 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $58.30. The stock has a market cap of $231.70 billion, a P/E ratio of 22.86, a PEG ratio of 4.63 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $53.30 and a two-hundred day moving average of $49.40.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. As a group, research analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 62.99%.

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.