O Brien Greene & Co. Inc Lowers Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

O Brien Greene & Co. Inc lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 142,645 shares of the network equipment provider’s stock after selling 8,494 shares during the quarter. Cisco Systems accounts for approximately 2.4% of O Brien Greene & Co. Inc’s holdings, making the stock its 16th largest position. O Brien Greene & Co. Inc’s holdings in Cisco Systems were worth $7,592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. LRI Investments LLC boosted its stake in Cisco Systems by 104.3% during the third quarter. LRI Investments LLC now owns 20,514 shares of the network equipment provider’s stock valued at $1,188,000 after buying an additional 10,472 shares during the last quarter. Harvest Investment Advisors LLC increased its stake in Cisco Systems by 2.2% in the 3rd quarter. Harvest Investment Advisors LLC now owns 29,965 shares of the network equipment provider’s stock worth $1,595,000 after acquiring an additional 645 shares during the last quarter. PYA Waltman Capital LLC raised its holdings in shares of Cisco Systems by 14.3% during the 3rd quarter. PYA Waltman Capital LLC now owns 18,517 shares of the network equipment provider’s stock worth $985,000 after acquiring an additional 2,311 shares in the last quarter. Peloton Wealth Strategists boosted its position in shares of Cisco Systems by 12.2% during the 3rd quarter. Peloton Wealth Strategists now owns 47,775 shares of the network equipment provider’s stock valued at $2,543,000 after acquiring an additional 5,200 shares during the last quarter. Finally, SGL Investment Advisors Inc. purchased a new position in shares of Cisco Systems in the third quarter valued at $244,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.2 %

Shares of Cisco Systems stock opened at $59.89 on Monday. The firm’s 50 day simple moving average is $56.53 and its two-hundred day simple moving average is $50.96. The firm has a market capitalization of $238.53 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 4.46 and a beta of 0.85. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.23. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the prior year, the company earned $0.98 EPS. Cisco Systems’s quarterly revenue was down 5.6% on a year-over-year basis. Analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of recent research reports. Barclays upped their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their target price for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Tigress Financial lifted their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Evercore ISI boosted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Insider Activity

In other news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 1.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the transaction, the director now owns 65,915 shares in the company, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,860 shares of company stock valued at $20,231,558 in the last three months. 0.01% of the stock is currently 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.