Leo Brokerage LLC Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Leo Brokerage LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 30.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,908 shares of the network equipment provider’s stock after selling 5,521 shares during the quarter. Leo Brokerage LLC’s holdings in Cisco Systems were worth $550,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Financial Management Network Inc. bought a new position in Cisco Systems during the second quarter valued at approximately $418,000. S.C. Financial Services Inc. boosted its stake in Cisco Systems by 5.2% during the second quarter. S.C. Financial Services Inc. now owns 12,461 shares of the network equipment provider’s stock valued at $531,000 after buying an additional 615 shares during the last quarter. American National Bank boosted its stake in Cisco Systems by 19.1% during the second quarter. American National Bank now owns 38,620 shares of the network equipment provider’s stock valued at $1,647,000 after buying an additional 6,180 shares during the last quarter. Range Financial Group LLC boosted its stake in Cisco Systems by 6.3% during the second quarter. Range Financial Group LLC now owns 17,739 shares of the network equipment provider’s stock valued at $756,000 after buying an additional 1,051 shares during the last quarter. Finally, CVA Family Office LLC lifted its stake in shares of Cisco Systems by 6.6% in the 2nd quarter. CVA Family Office LLC now owns 17,849 shares of the network equipment provider’s stock valued at $761,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 71.71% of the company’s stock.

Cisco Systems Trading Up 0.0 %

CSCO opened at $43.30 on Monday. 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. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. Cisco Systems, Inc. has a 12 month low of $40.82 and a 12 month high of $64.29. The stock has a fifty day moving average price of $45.16 and a 200-day moving average price of $47.85.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01. The firm had revenue of $13.10 billion during the quarter, compared to analyst estimates of $12.78 billion. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 EPS. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.1 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.51%. The ex-dividend date is Tuesday, October 4th. Cisco Systems’s dividend payout ratio is currently 53.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CSCO shares. Cowen raised their price objective on Cisco Systems from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. Barclays raised their price objective on Cisco Systems from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. Evercore ISI raised their price objective on Cisco Systems from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. Jefferies Financial Group raised their price objective on Cisco Systems from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $51.00 price objective (down from $62.00) on shares of Cisco Systems in a research note on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $55.29.

Insider Activity at Cisco Systems

In related news, SVP Prat Bhatt sold 19,168 shares of the company’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $848,759.04. Following the transaction, the senior vice president now directly owns 38,158 shares of the company’s stock, valued at approximately $1,689,636.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Cisco Systems news, SVP Prat Bhatt sold 19,168 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $848,759.04. Following the sale, the senior vice president now owns 38,158 shares in the company, valued at approximately $1,689,636.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeffery S. Sharritts sold 12,838 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $47.86, for a total value of $614,426.68. Following the sale, the executive vice president now owns 167,532 shares in the company, valued at approximately $8,018,081.52. The disclosure for this sale can be found here. Insiders have sold 56,317 shares of company stock valued at $2,612,042 in the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Company Profile

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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.

Further Reading

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

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