Verus Capital Partners LLC Sells 2,211 Shares of Cisco Systems, Inc. $CSCO

Verus Capital Partners LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,405 shares of the network equipment provider’s stock after selling 2,211 shares during the period. Verus Capital Partners LLC’s holdings in Cisco Systems were worth $791,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CSCO. Financial Connections Group Inc. raised its position in Cisco Systems by 89.4% during the 2nd quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock valued at $28,000 after purchasing an additional 193 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Cisco Systems in the second quarter valued at about $28,000. Pandora Wealth Inc. purchased a new stake in Cisco Systems in the first quarter worth about $31,000. Nova Wealth Management Inc. bought a new position in Cisco Systems during the 1st quarter worth about $31,000. Finally, Brown Shipley& Co Ltd bought a new position in Cisco Systems during the 2nd quarter worth about $32,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Trading Down 0.5%

Shares of NASDAQ:CSCO opened at $71.71 on Wednesday. The business’s 50-day moving average is $69.33 and its 200 day moving average is $67.16. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.00 and a quick ratio of 0.91. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $74.84. The firm has a market capitalization of $282.59 billion, a P/E ratio of 27.37, a P/E/G ratio of 3.00 and a beta of 0.95.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $14.67 billion for the quarter, compared to analyst estimates of $14.63 billion. Cisco Systems had a return on equity of 27.06% and a net margin of 18.45%.The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 428 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $68.25, for a total transaction of $29,211.00. Following the transaction, the senior vice president owned 30,619 shares in the company, valued at approximately $2,089,746.75. This represents a 1.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Oliver Tuszik sold 17,526 shares of Cisco Systems stock in a transaction on Friday, September 19th. The stock was sold at an average price of $67.95, for a total transaction of $1,190,891.70. Following the sale, the executive vice president owned 198,855 shares of the company’s stock, valued at $13,512,197.25. The trade was a 8.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 82,965 shares of company stock worth $5,559,996 in the last 90 days. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on CSCO. Hsbc Global Res cut shares of Cisco Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. HSBC restated a “hold” rating and set a $69.00 target price on shares of Cisco Systems in a report on Friday, August 15th. Barclays lifted their price target on Cisco Systems from $66.00 to $71.00 and gave the company an “equal weight” rating in a report on Thursday, August 14th. Bank of America upped their price objective on Cisco Systems from $76.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 14th. Finally, Wells Fargo & Company lifted their target price on Cisco Systems from $75.00 to $83.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.50.

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 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.