Means Investment CO. Inc. Reduces Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Means Investment CO. Inc. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 22.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,062 shares of the network equipment provider’s stock after selling 7,223 shares during the quarter. Means Investment CO. Inc.’s holdings in Cisco Systems were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CSCO. Delos Wealth Advisors LLC boosted its position in shares of Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after acquiring an additional 600 shares during the period. DiNuzzo Private Wealth Inc. bought a new position in Cisco Systems in the 4th quarter valued at $33,000. Retirement Group LLC grew its position in shares of Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares in the last quarter. Tidemark LLC bought a new position in shares of Cisco Systems in the fourth quarter worth $41,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Cisco Systems in the first quarter worth $41,000. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $58.00 in a research report on Friday. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Wells Fargo & Company increased their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.89.

Insider Activity

In other news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the transaction, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the transaction, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,090 shares of company stock valued at $1,522,231. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 1.1 %

Cisco Systems stock traded up $0.52 during trading hours on Monday, reaching $49.98. The stock had a trading volume of 16,165,577 shares, compared to its average volume of 19,911,471. The company has a fifty day simple moving average of $46.74 and a 200-day simple moving average of $47.86. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $58.19. The stock has a market cap of $201.36 billion, a PE ratio of 16.74, a PEG ratio of 2.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the company posted $1.01 EPS. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. Analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.20%. Cisco Systems’s dividend payout ratio is 53.87%.

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 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.