Butensky & Cohen Financial Security Inc. Sells 3,266 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Butensky & Cohen Financial Security Inc. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,387 shares of the network equipment provider’s stock after selling 3,266 shares during the quarter. Cisco Systems comprises approximately 1.7% of Butensky & Cohen Financial Security Inc.’s portfolio, making the stock its 3rd largest holding. Butensky & Cohen Financial Security Inc.’s holdings in Cisco Systems were worth $4,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. United Bank acquired a new position in shares of Cisco Systems during the first quarter worth about $645,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cisco Systems by 32.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock worth $236,593,000 after acquiring an additional 1,040,607 shares during the period. Roundview Capital LLC increased its stake in shares of Cisco Systems by 13.1% during the first quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock worth $588,000 after acquiring an additional 1,221 shares during the period. Merit Financial Group LLC increased its stake in shares of Cisco Systems by 21.5% during the first quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock worth $656,000 after acquiring an additional 2,079 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in Cisco Systems by 8.1% during the first quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock worth $135,470,000 after buying an additional 182,857 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Cisco Systems stock opened at $56.11 on Tuesday. Cisco Systems, Inc. has a 52-week low of $38.60 and a 52-week high of $58.19. The firm has a fifty day moving average of $54.20 and a 200-day moving average of $51.17. The firm has a market capitalization of $227.52 billion, a P/E ratio of 18.28, a PEG ratio of 2.50 and a beta of 0.97. The company has a quick ratio of 1.27, a current ratio of 1.38 and a debt-to-equity ratio of 0.15.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. The company had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.05 billion. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 3.58 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio (DPR) is presently 50.81%.

Insider Activity

In other news, CFO Richard Scott Herren sold 2,579 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $50.65, for a total value of $130,626.35. Following the completion of the transaction, the chief financial officer now directly owns 281,493 shares in the company, valued at $14,257,620.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 2,579 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $50.65, for a total transaction of $130,626.35. Following the transaction, the chief financial officer now directly owns 281,493 shares in the company, valued at approximately $14,257,620.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,158 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $55.15, for a total transaction of $119,013.70. Following the completion of the transaction, the executive vice president now owns 173,618 shares in the company, valued at $9,575,032.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,438 shares of company stock worth $2,948,779. 0.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of research analyst reports. 51job reissued an “initiates” rating on shares of Cisco Systems in a report on Friday, June 30th. StockNews.com began coverage on shares of Cisco Systems in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Rosenblatt Securities upped their price target on shares of Cisco Systems from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Citigroup upped their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Finally, Jefferies Financial Group upped their price target on shares of Cisco Systems from $54.00 to $59.50 and gave the company a “buy” rating in a report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $59.43.

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 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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.