Thompson Investment Management Inc. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 23.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,683 shares of the network equipment provider’s stock after selling 41,658 shares during the period. Cisco Systems accounts for approximately 1.3% of Thompson Investment Management Inc.’s investment portfolio, making the stock its 21st largest holding. Thompson Investment Management Inc.’s holdings in Cisco Systems were worth $6,655,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mirador Capital Partners LP boosted its holdings in Cisco Systems by 1.7% in the second quarter. Mirador Capital Partners LP now owns 11,977 shares of the network equipment provider’s stock worth $656,000 after acquiring an additional 199 shares in the last quarter. Weil Company Inc. raised its position in Cisco Systems by 0.5% during the second quarter. Weil Company Inc. now owns 38,992 shares of the network equipment provider’s stock valued at $2,134,000 after acquiring an additional 201 shares in the last quarter. Pinnacle Holdings LLC raised its position in Cisco Systems by 1.0% during the second quarter. Pinnacle Holdings LLC now owns 19,758 shares of the network equipment provider’s stock valued at $1,081,000 after acquiring an additional 201 shares in the last quarter. Baystate Wealth Management LLC raised its position in Cisco Systems by 2.0% during the second quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock valued at $600,000 after acquiring an additional 202 shares in the last quarter. Finally, Keel Point LLC raised its position in Cisco Systems by 3.7% during the second quarter. Keel Point LLC now owns 5,708 shares of the network equipment provider’s stock valued at $312,000 after acquiring an additional 202 shares in the last quarter. Institutional investors own 73.27% of the company’s stock.
Shares of Cisco Systems stock traded up $0.41 on Friday, reaching $48.83. The company’s stock had a trading volume of 14,406,400 shares, compared to its average volume of 20,421,932. The company has a market capitalization of $202.69 billion, a P/E ratio of 17.13, a PEG ratio of 2.30 and a beta of 1.28. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $58.26. The stock has a 50-day moving average price of $47.57 and a 200-day moving average price of $52.11. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.43.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01. The business had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, October 3rd. Cisco Systems’s payout ratio is 49.12%.
In related news, EVP Mark D. Chandler sold 546 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $47.92, for a total transaction of $26,164.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 18,955 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $50.04, for a total value of $948,508.20. The disclosure for this sale can be found here. Insiders have sold 193,130 shares of company stock valued at $9,359,179 over the last quarter. 0.03% of the stock is owned by company insiders.
Several brokerages recently weighed in on CSCO. JPMorgan Chase & Co. set a $62.00 price target on Cisco Systems and gave the company a “buy” rating in a research report on Monday, August 12th. KeyCorp reduced their price target on Cisco Systems from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Barclays began coverage on Cisco Systems in a research report on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 price target for the company. Citigroup reduced their price target on Cisco Systems from $65.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Robert W. Baird set a $54.00 price target on Cisco Systems and gave the company a “buy” rating in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $55.92.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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