Stonnington Group LLC Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Stonnington Group LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 29.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,562 shares of the network equipment provider’s stock after selling 2,298 shares during the quarter. Stonnington Group LLC’s holdings in Cisco Systems were worth $240,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ballast Advisors LLC grew its holdings in shares of Cisco Systems by 4.0% during the first quarter. Ballast Advisors LLC now owns 8,632 shares of the network equipment provider’s stock worth $481,000 after purchasing an additional 334 shares in the last quarter. Fortem Financial Group LLC grew its holdings in shares of Cisco Systems by 8.6% during the first quarter. Fortem Financial Group LLC now owns 35,631 shares of the network equipment provider’s stock worth $1,987,000 after purchasing an additional 2,832 shares in the last quarter. Pure Financial Advisors LLC grew its holdings in shares of Cisco Systems by 4.9% during the first quarter. Pure Financial Advisors LLC now owns 6,195 shares of the network equipment provider’s stock worth $345,000 after purchasing an additional 287 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Cisco Systems by 1.2% during the first quarter. Harbor Investment Advisory LLC now owns 27,554 shares of the network equipment provider’s stock worth $1,536,000 after purchasing an additional 338 shares in the last quarter. Finally, Field & Main Bank grew its holdings in shares of Cisco Systems by 7.2% during the first quarter. Field & Main Bank now owns 24,940 shares of the network equipment provider’s stock worth $1,390,000 after purchasing an additional 1,675 shares in the last quarter. Hedge funds and other institutional investors own 71.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler boosted their price objective on Cisco Systems from $43.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, August 18th. Rosenblatt Securities upped their target price on Cisco Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, August 18th. Citigroup upped their target price on Cisco Systems from $40.00 to $44.00 and gave the company a “sell” rating in a report on Thursday, August 18th. The Goldman Sachs Group upped their price target on Cisco Systems from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, August 18th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $51.00 target price (down from $62.00) on shares of Cisco Systems in a research note on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.29.

Insider Activity

In related news, EVP Jeffery S. Sharritts sold 637 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $44.69, for a total transaction of $28,467.53. Following the completion of the sale, the executive vice president now directly owns 166,370 shares of the company’s stock, valued at approximately $7,435,075.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Jeffery S. Sharritts sold 637 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $44.69, for a total value of $28,467.53. Following the sale, the executive vice president now owns 166,370 shares in the company, valued at approximately $7,435,075.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 12,716 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $47.14, for a total transaction of $599,432.24. Following the sale, the chief executive officer now owns 631,374 shares in the company, valued at approximately $29,762,970.36. The disclosure for this sale can be found here. Insiders sold 56,317 shares of company stock valued at $2,612,042 in the last ninety days. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $43.30 on Monday. The stock’s 50-day moving average is $45.16 and its two-hundred day moving average is $47.85. The firm has a market cap of $177.91 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 2.15 and a beta of 0.96. Cisco Systems, Inc. has a 1 year low of $40.82 and a 1 year high of $64.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.43.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The company had revenue of $13.10 billion for the quarter, compared to analyst estimates of $12.78 billion. During the same quarter in the previous year, the company earned $0.76 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts predict that Cisco Systems, Inc. will post 3.1 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.52 annualized dividend and a yield of 3.51%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.90%.

About Cisco Systems

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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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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