MCF Advisors LLC Sells 860 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

MCF Advisors LLC decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,130 shares of the network equipment provider’s stock after selling 860 shares during the period. MCF Advisors LLC’s holdings in Cisco Systems were worth $1,194,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in Cisco Systems by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after acquiring an additional 1,853,598 shares during the last quarter. Norges Bank bought a new position in shares of Cisco Systems during the 4th quarter valued at about $2,528,939,000. Wellington Management Group LLP raised its holdings in shares of Cisco Systems by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after buying an additional 3,314,330 shares in the last quarter. First Trust Advisors LP lifted its position in Cisco Systems by 12.3% in the 4th quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after buying an additional 2,723,260 shares during the last quarter. Finally, FIL Ltd boosted its stake in Cisco Systems by 47.1% in the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after buying an additional 6,054,748 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CSCO shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Barclays lowered their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Piper Sandler reissued a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Oppenheimer increased their target price on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.89.

Cisco Systems Stock Down 1.1 %

CSCO stock opened at $49.13 on Friday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.47. The company has a market capitalization of $197.94 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 3.98 and a beta of 0.83. The business’s 50 day moving average price is $47.82 and its two-hundred day moving average price is $47.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.26%. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Insiders have sold 71,944 shares of company stock valued at $3,566,120 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

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 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.