Intersect Capital LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 77,346 shares of the network equipment provider’s stock after buying an additional 781 shares during the quarter. Cisco Systems makes up 1.4% of Intersect Capital LLC’s holdings, making the stock its 15th biggest holding. Intersect Capital LLC’s holdings in Cisco Systems were worth $3,822,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of CSCO. Mirador Capital Partners LP boosted its position in Cisco Systems by 1.7% during the second quarter. Mirador Capital Partners LP now owns 11,977 shares of the network equipment provider’s stock valued at $656,000 after acquiring an additional 199 shares during the last quarter. Weil Company Inc. grew its position in Cisco Systems by 0.5% in the 2nd quarter. Weil Company Inc. now owns 38,992 shares of the network equipment provider’s stock worth $2,134,000 after purchasing an additional 201 shares in the last quarter. Pinnacle Holdings LLC grew its position in Cisco Systems by 1.0% in the 2nd quarter. Pinnacle Holdings LLC now owns 19,758 shares of the network equipment provider’s stock worth $1,081,000 after purchasing an additional 201 shares in the last quarter. Baystate Wealth Management LLC grew its position in Cisco Systems by 2.0% in the 2nd quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock worth $600,000 after purchasing an additional 202 shares in the last quarter. Finally, Keel Point LLC grew its position in Cisco Systems by 3.7% in the 2nd quarter. Keel Point LLC now owns 5,708 shares of the network equipment provider’s stock worth $312,000 after purchasing an additional 202 shares in the last quarter. 73.27% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on CSCO shares. Royal Bank of Canada reduced their price objective on shares of Cisco Systems from $64.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. ValuEngine downgraded shares of Cisco Systems from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Barclays began coverage on shares of Cisco Systems in a research report on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 price objective for the company. Piper Jaffray Companies downgraded shares of Cisco Systems from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $55.00 to $51.00 in a research report on Monday. Finally, Credit Suisse Group reissued a “neutral” rating and set a $49.00 target price (down from $50.00) on shares of Cisco Systems in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $55.64.
In related news, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total value of $3,270,400.00. Following the completion of the transaction, the chief financial officer now directly owns 277,548 shares of the company’s stock, valued at approximately $12,967,042.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Irving Tan sold 22,896 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $1,131,520.32. Following the completion of the transaction, the senior vice president now directly owns 154,819 shares of the company’s stock, valued at $7,651,154.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 193,130 shares of company stock valued at $9,359,179. 0.03% of the stock is owned by insiders.
CSCO traded down $0.73 on Monday, hitting $48.10. The company’s stock had a trading volume of 19,589,004 shares, compared to its average volume of 20,418,146. The company’s 50 day simple moving average is $47.56 and its 200-day simple moving average is $52.07. The firm has a market cap of $202.69 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.43.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The company had revenue of $13.43 billion during the quarter, compared to the consensus estimate of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. Cisco Systems’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.70 EPS. Equities analysts predict that Cisco Systems, Inc. will post 3.03 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Thursday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.
About Cisco Systems
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.
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).
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.