Global Retirement Partners LLC Sells 638 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Global Retirement Partners LLC cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,050 shares of the network equipment provider’s stock after selling 638 shares during the quarter. Global Retirement Partners LLC’s holdings in Cisco Systems were worth $4,207,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CSCO. Gleason Group Inc. grew its position in shares of Cisco Systems by 0.9% in the 3rd quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock valued at $1,207,000 after acquiring an additional 193 shares during the period. Cypress Wealth Services LLC lifted its stake in Cisco Systems by 1.7% in the 3rd quarter. Cypress Wealth Services LLC now owns 12,161 shares of the network equipment provider’s stock valued at $647,000 after purchasing an additional 198 shares during the last quarter. Baker Boyer National Bank grew its holdings in Cisco Systems by 2.6% during the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after purchasing an additional 210 shares during the period. Holland Advisory Services Inc. grew its holdings in Cisco Systems by 5.3% during the first quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock worth $211,000 after purchasing an additional 213 shares during the period. Finally, WealthPLAN Partners LLC increased its position in Cisco Systems by 3.0% during the first quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock worth $369,000 after buying an additional 213 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed 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 dated 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 sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 over the last three months. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CSCO shares. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $52.00 to $62.00 in a research report on Wednesday. Evercore ISI raised their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.74.

Cisco Systems Stock Performance

CSCO opened at $56.40 on Friday. 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, Inc. has a 52-week low of $44.50 and a 52-week high of $56.58. The firm has a market cap of $227.23 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The business’s fifty day moving average is $50.95 and its 200-day moving average is $48.56.

Cisco Systems (NASDAQ:CSCO) last announced 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 firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. Sell-side analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.84%. Cisco Systems’s dividend payout ratio is currently 53.87%.

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.