Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Lowered by Vicus Capital

Vicus Capital lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,291 shares of the network equipment provider’s stock after selling 788 shares during the period. Vicus Capital’s holdings in Cisco Systems were worth $548,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc raised its holdings in shares of Cisco Systems by 19.1% in the 1st quarter. AdvisorNet Financial Inc now owns 16,034 shares of the network equipment provider’s stock worth $800,000 after purchasing an additional 2,577 shares in the last quarter. Global Assets Advisory LLC acquired a new position in Cisco Systems in the first quarter worth approximately $3,344,000. Austin Private Wealth LLC increased its holdings in shares of Cisco Systems by 6.1% in the first quarter. Austin Private Wealth LLC now owns 7,657 shares of the network equipment provider’s stock valued at $373,000 after buying an additional 440 shares in the last quarter. New England Professional Planning Group Inc. lifted its position in shares of Cisco Systems by 8.8% during the 1st quarter. New England Professional Planning Group Inc. now owns 7,319 shares of the network equipment provider’s stock valued at $365,000 after acquiring an additional 590 shares during the last quarter. Finally, DLK Investment Management LLC boosted its stake in shares of Cisco Systems by 2.3% during the 1st quarter. DLK Investment Management LLC now owns 63,065 shares of the network equipment provider’s stock worth $3,148,000 after acquiring an additional 1,393 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on 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 transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 22,309 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the sale, the chief financial officer now owns 293,184 shares of the company’s stock, valued at $14,659,200. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,529 shares of company stock valued at $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Up 0.1 %

NASDAQ CSCO traded up $0.04 during trading on Tuesday, reaching $56.63. The company’s stock had a trading volume of 3,692,451 shares, compared to its average volume of 19,080,816. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $228.15 billion, a PE ratio of 19.05, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The business has a 50-day moving average price of $51.41 and a 200-day moving average price of $48.66.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data 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. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 EPS. On average, research analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is 53.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CSCO. Rosenblatt Securities boosted their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Evercore ISI lifted their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Barclays reduced 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 report on Thursday, August 15th. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.74.

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.