Lederer & Associates Investment Counsel CA Sells 2,045 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Lederer & Associates Investment Counsel CA trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 27,879 shares of the network equipment provider’s stock after selling 2,045 shares during the period. Lederer & Associates Investment Counsel CA’s holdings in Cisco Systems were worth $1,325,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CSCO. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Cisco Systems by 1,096.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after acquiring an additional 2,663,676 shares during the period. Thompson Siegel & Walmsley LLC boosted its stake in shares of Cisco Systems by 0.6% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock worth $13,683,000 after buying an additional 1,520 shares during the last quarter. Marcum Wealth LLC boosted its stake in shares of Cisco Systems by 4.0% in the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock worth $1,215,000 after buying an additional 943 shares during the last quarter. Inscription Capital LLC boosted its stake in shares of Cisco Systems by 49.4% in the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock worth $2,300,000 after buying an additional 15,198 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of Cisco Systems in the 4th quarter worth approximately $117,000. 73.33% of the stock is currently owned by institutional investors.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,944 shares of company stock worth $3,566,120. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSCO. Wells Fargo & Company upped their price objective on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research note on Monday, May 13th. Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Oppenheimer increased their target price on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $55.89.

Cisco Systems Stock Down 0.0 %

CSCO opened at $50.04 on Wednesday. The stock has a market cap of $201.60 billion, a PE ratio of 16.86, a P/E/G ratio of 3.98 and a beta of 0.85. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $57.82. The business’s fifty day simple moving average is $47.73 and its 200 day simple moving average is $47.91.

Cisco Systems (NASDAQ:CSCO) last released its 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. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share. As a group, research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.20%. Cisco Systems’s dividend payout ratio is currently 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.