Loveless Wealth Management LLC Has $1.27 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Loveless Wealth Management LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,264 shares of the network equipment provider’s stock after buying an additional 731 shares during the quarter. Loveless Wealth Management LLC’s holdings in Cisco Systems were worth $1,271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Hoey Investments Inc. acquired a new stake in Cisco Systems in the 2nd quarter valued at about $26,000. FNY Investment Advisers LLC lifted its position in shares of Cisco Systems by 79,900.0% during the third quarter. FNY Investment Advisers LLC now owns 800 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 799 shares in the last quarter. Emerald Advisers LLC bought a new stake in shares of Cisco Systems during the second quarter valued at approximately $38,000. Larson Financial Group LLC increased its holdings in shares of Cisco Systems by 61.1% in the second quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock valued at $44,000 after purchasing an additional 356 shares in the last quarter. Finally, Ovata Capital Management Ltd bought a new position in Cisco Systems in the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

In related news, CEO Charles Robbins sold 7,806 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $42.10, for a total value of $328,632.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kelly A. Kramer sold 45,000 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $42.01, for a total value of $1,890,450.00. Insiders have sold a total of 60,166 shares of company stock worth $2,528,248 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.

A number of research analysts have commented on the company. UBS Group started coverage on Cisco Systems in a research report on Wednesday, September 23rd. They issued a “neutral” rating and a $41.00 price objective on the stock. Robert W. Baird reiterated a “hold” rating and issued a $48.00 price target on shares of Cisco Systems in a report on Monday, August 10th. Wolfe Research cut Cisco Systems from an “outperform” rating to a “peer perform” rating and set a $42.00 price objective for the company. in a report on Friday, September 18th. JPMorgan Chase & Co. cut their target price on shares of Cisco Systems from $50.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 13th. Finally, Citigroup cut shares of Cisco Systems from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $48.00 to $43.00 in a research report on Monday, October 12th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the company. Cisco Systems presently has an average rating of “Hold” and a consensus target price of $47.45.

Shares of Cisco Systems stock opened at $40.16 on Friday. The stock’s fifty day simple moving average is $39.95 and its 200 day simple moving average is $43.30. The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $170.01 billion, a PE ratio of 15.27, a PEG ratio of 2.16 and a beta of 0.87. Cisco Systems, Inc. has a 12 month low of $32.40 and a 12 month high of $50.28.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. Cisco Systems had a return on equity of 34.75% and a net margin of 22.75%. The company had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the company earned $0.83 earnings per share. Analysts predict that Cisco Systems, Inc. will post 2.8 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, October 1st. This represents a $1.44 annualized dividend and a yield of 3.59%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.32%.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

See Also: Does the Dogs of the Dow strategy work?

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.