Sargent Investment Group LLC Lowers Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Sargent Investment Group LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 26.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,231 shares of the network equipment provider’s stock after selling 1,909 shares during the period. Sargent Investment Group LLC’s holdings in Cisco Systems were worth $249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Summit Securities Group LLC purchased a new position in Cisco Systems in the second quarter worth about $25,000. Retirement Group LLC increased its position in shares of Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Cisco Systems in the 2nd quarter worth approximately $36,000. Tidemark LLC bought a new position in Cisco Systems in the 4th quarter valued at approximately $41,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the 1st quarter worth $41,000. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Down 0.8 %

NASDAQ CSCO opened at $50.61 on Wednesday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $56.28. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $203.90 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83. The stock’s 50-day moving average price is $48.25 and its 200-day moving average price is $47.99.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.01 EPS. On average, equities research analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CSCO shares. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Rosenblatt Securities raised their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $46.00 to $58.00 in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.89.

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.