Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by L.M. Kohn & Company

L.M. Kohn & Company cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,930 shares of the network equipment provider’s stock after selling 1,621 shares during the period. L.M. Kohn & Company’s holdings in Cisco Systems were worth $741,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Davis Capital Management increased its position in Cisco Systems by 2.3% in the 2nd quarter. Davis Capital Management now owns 32,983 shares of the network equipment provider’s stock valued at $1,567,000 after acquiring an additional 738 shares during the period. GAMMA Investing LLC grew its stake in shares of Cisco Systems by 12.4% in the 2nd quarter. GAMMA Investing LLC now owns 69,138 shares of the network equipment provider’s stock valued at $3,285,000 after purchasing an additional 7,636 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Cisco Systems by 3.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 534,333 shares of the network equipment provider’s stock valued at $25,386,000 after purchasing an additional 15,682 shares during the period. HBW Advisory Services LLC raised its stake in shares of Cisco Systems by 4.6% during the second quarter. HBW Advisory Services LLC now owns 7,769 shares of the network equipment provider’s stock worth $369,000 after purchasing an additional 341 shares during the last quarter. Finally, Stokes Family Office LLC lifted its holdings in shares of Cisco Systems by 0.4% during the second quarter. Stokes Family Office LLC now owns 53,249 shares of the network equipment provider’s stock worth $2,530,000 after purchasing an additional 231 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 339,479 shares of company stock worth $19,490,991. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CSCO. Wells Fargo & Company upped their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Tigress Financial boosted their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $59.94.

Cisco Systems Trading Down 0.1 %

NASDAQ:CSCO opened at $59.21 on Friday. The company has a market capitalization of $235.82 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 4.42 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.87. The stock has a fifty day simple moving average of $55.83 and a 200-day simple moving average of $50.52. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.70%. Cisco Systems’s payout ratio is currently 68.67%.

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.