Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Buckley Wealth Management LLC

Buckley Wealth Management LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 170,864 shares of the network equipment provider’s stock after selling 3,554 shares during the period. Cisco Systems accounts for about 3.0% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 10th biggest holding. Buckley Wealth Management LLC’s holdings in Cisco Systems were worth $8,841,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Steward Financial Group LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Altshuler Shaham Ltd acquired a new position in shares of Cisco Systems in the first quarter valued at approximately $32,000. Carmel Capital Partners LLC acquired a new stake in Cisco Systems during the 1st quarter worth approximately $35,000. Tucker Asset Management LLC bought a new position in Cisco Systems during the 1st quarter worth $35,000. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO 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 business’s fifty day moving average is $54.20 and its 200 day moving average is $51.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 1.38. The firm has a market cap of $227.52 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.48 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The business had revenue of $15.20 billion for 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%. Cisco Systems’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 EPS. Research analysts predict that Cisco Systems, Inc. will post 3.58 EPS for the current year.

Cisco Systems Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CSCO shares. 51job reissued an “initiates” rating on shares of Cisco Systems in a report on Friday, June 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 price target on shares of Cisco Systems in a research note on Thursday, August 17th. Citigroup raised their target price on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Bank of America upped their price objective on shares of Cisco Systems from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 13th. Finally, BNP Paribas started coverage on shares of Cisco Systems in a research note on Thursday, July 20th. They set an “underperform” rating and a $45.00 target price on the stock. One 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.43.

Insider Buying and Selling at Cisco Systems

In related news, COO Maria Martinez sold 10,000 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $50.88, for a total transaction of $508,800.00. Following the transaction, the chief operating officer now owns 414,033 shares of the company’s stock, valued at approximately $21,065,999.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 2,579 shares of the firm’s stock in a transaction dated 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Maria Martinez sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $50.88, for a total value of $508,800.00. Following the transaction, the chief operating officer now owns 414,033 shares in the company, valued at approximately $21,065,999.04. The disclosure for this sale can be found here. Insiders sold a total of 54,438 shares of company stock worth $2,948,779 over the last three months. 0.02% of the stock is owned by insiders.

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 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.