CRA Financial Services LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,788 shares of the network equipment provider’s stock after selling 1,275 shares during the period. CRA Financial Services LLC’s holdings in Cisco Systems were worth $346,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of CSCO. Cedar Brook Financial Partners LLC increased its holdings in shares of Cisco Systems by 3.3% in the second quarter. Cedar Brook Financial Partners LLC now owns 6,712 shares of the network equipment provider’s stock valued at $313,000 after purchasing an additional 216 shares during the period. Ferris Capital LLC boosted its position in Cisco Systems by 2.3% in the second quarter. Ferris Capital LLC now owns 10,113 shares of the network equipment provider’s stock valued at $472,000 after buying an additional 224 shares during the last quarter. Armbruster Capital Management Inc. increased its holdings in Cisco Systems by 3.2% in the 2nd quarter. Armbruster Capital Management Inc. now owns 7,277 shares of the network equipment provider’s stock worth $339,000 after buying an additional 227 shares during the period. NEXT Financial Group Inc raised its position in Cisco Systems by 0.5% during the 2nd quarter. NEXT Financial Group Inc now owns 49,129 shares of the network equipment provider’s stock worth $2,291,000 after buying an additional 230 shares during the last quarter. Finally, Strategic Wealth Management Group LLC lifted its stake in Cisco Systems by 2.8% during the 2nd quarter. Strategic Wealth Management Group LLC now owns 8,766 shares of the network equipment provider’s stock valued at $409,000 after acquiring an additional 235 shares during the period. 71.28% of the stock is owned by institutional investors.
In other Cisco Systems news, EVP Irving Tan sold 4,141 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $42.08, for a total value of $174,253.28. Following the transaction, the executive vice president now directly owns 125,860 shares of the company’s stock, valued at approximately $5,296,188.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Prat Bhatt sold 2,873 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $42.11, for a total value of $120,982.03. Following the transaction, the chief accounting officer now owns 82,006 shares in the company, valued at $3,453,272.66. The disclosure for this sale can be found here. Insiders sold a total of 60,166 shares of company stock worth $2,528,248 in the last 90 days. 0.03% of the stock is currently owned by insiders.
Several brokerages recently issued reports on CSCO. Robert W. Baird reissued a “hold” rating and set a $48.00 target price on shares of Cisco Systems in a report on Monday, August 10th. Goldman Sachs Group reiterated a “neutral” rating and set a $45.00 price objective on shares of Cisco Systems in a research note on Thursday, August 13th. BidaskClub downgraded Cisco Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Morgan Stanley reaffirmed a “buy” rating and set a $54.00 target price on shares of Cisco Systems in a report on Thursday, August 13th. Finally, Credit Suisse Group boosted their price target on Cisco Systems from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have issued a buy rating to the stock. Cisco Systems has an average rating of “Hold” and an average target price of $47.45.
CSCO opened at $40.16 on Friday. The company has a market cap of $170.01 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. Cisco Systems, Inc. has a twelve month low of $32.40 and a twelve month high of $50.28. The company has a 50-day moving average price of $39.95 and a 200 day moving average price of $43.30. The company has a quick ratio of 1.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.31.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.06. The company had revenue of $12.15 billion during the quarter, compared to analyst estimates of $12.09 billion. Cisco Systems had a return on equity of 34.75% and a net margin of 22.75%. During the same period in the previous year, the business earned $0.83 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, October 1st. Cisco Systems’s dividend payout ratio is currently 49.32%.
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 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.
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