Ballast Advisors LLC Sells 332 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Ballast Advisors LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.6% during the third quarter, Holdings Channel.com reports. The firm owned 4,722 shares of the network equipment provider’s stock after selling 332 shares during the quarter. Ballast Advisors LLC’s holdings in Cisco Systems were worth $251,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Harvest Portfolios Group Inc. raised its position in Cisco Systems by 4.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 839,621 shares of the network equipment provider’s stock valued at $44,685,000 after buying an additional 35,664 shares during the last quarter. Radnor Capital Management LLC raised its position in Cisco Systems by 29.1% in the 3rd quarter. Radnor Capital Management LLC now owns 68,274 shares of the network equipment provider’s stock valued at $3,634,000 after buying an additional 15,405 shares during the last quarter. Catalina Capital Group LLC raised its position in Cisco Systems by 22.9% in the 3rd quarter. Catalina Capital Group LLC now owns 14,424 shares of the network equipment provider’s stock valued at $768,000 after buying an additional 2,683 shares during the last quarter. Balentine LLC raised its position in Cisco Systems by 121.7% in the 3rd quarter. Balentine LLC now owns 11,153 shares of the network equipment provider’s stock valued at $594,000 after buying an additional 6,123 shares during the last quarter. Finally, Long Run Wealth Advisors LLC raised its position in Cisco Systems by 7.2% in the 3rd quarter. Long Run Wealth Advisors LLC now owns 33,559 shares of the network equipment provider’s stock valued at $1,786,000 after buying an additional 2,250 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CSCO shares. Barclays lowered their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Rosenblatt Securities lifted their price objective on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Hold” and an average price target of $56.74.

Cisco Systems Trading Up 2.5 %

Shares of CSCO traded up $1.39 during mid-day trading on Wednesday, hitting $57.55. 790,531 shares of the company’s stock traded hands, compared to its average volume of 18,894,709. 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 1 year low of $44.50 and a 1 year high of $57.70. The firm has a market capitalization of $229.67 billion, a P/E ratio of 22.11, a PEG ratio of 4.60 and a beta of 0.83. The business’s 50-day moving average price is $52.84 and its 200-day moving average price is $49.21.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was down 10.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio is presently 62.99%.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last ninety days. 0.01% of the stock is owned by corporate insiders.

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.