KMG Fiduciary Partners LLC Has $3.12 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

KMG Fiduciary Partners LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 11.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,117 shares of the network equipment provider’s stock after selling 9,687 shares during the period. KMG Fiduciary Partners LLC’s holdings in Cisco Systems were worth $3,118,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Cordant Inc. acquired a new stake in shares of Cisco Systems in the first quarter valued at approximately $28,000. Advanced Research Investment Solutions LLC boosted its position in shares of Cisco Systems by 564.6% during the first quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider’s stock worth $30,000 after purchasing an additional 463 shares in the last quarter. Conrad Siegel Investment Advisors Inc. bought a new position in shares of Cisco Systems during the first quarter worth $33,000. PYA Waltman Capital LLC boosted its position in shares of Cisco Systems by 445.4% during the first quarter. PYA Waltman Capital LLC now owns 769 shares of the network equipment provider’s stock worth $43,000 after purchasing an additional 628 shares in the last quarter. Finally, Evolution Advisers Inc. lifted its position in Cisco Systems by 48.2% in the 1st quarter. Evolution Advisers Inc. now owns 781 shares of the network equipment provider’s stock valued at $43,000 after acquiring an additional 254 shares in the last quarter. Institutional investors own 71.71% of the company’s stock.

Insider Buying and Selling

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

Cisco Systems Stock Down 2.3 %

Shares of Cisco Systems stock opened at $41.59 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $45.13 and its two-hundred day simple moving average is $47.62. The company has a market cap of $170.89 billion, a P/E ratio of 14.75, a PEG ratio of 2.11 and a beta of 0.96. Cisco Systems, Inc. has a 12-month low of $40.82 and a 12-month high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $13.10 billion for the quarter, compared to analysts’ expectations of $12.78 billion. Cisco Systems had a net margin of 22.91% and a return on equity of 31.12%. Cisco Systems’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 EPS. Research analysts anticipate that Cisco Systems, Inc. will post 3.1 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders 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 dividend yield of 3.65%. The ex-dividend date is Tuesday, October 4th. Cisco Systems’s payout ratio is currently 53.90%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CSCO shares. Morgan Stanley lifted their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, August 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $51.00 target price (down previously from $62.00) on shares of Cisco Systems in a report on Thursday, July 14th. Jefferies Financial Group boosted their price objective on shares of Cisco Systems from $52.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 18th. Evercore ISI boosted their price objective on shares of Cisco Systems from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, August 18th. Finally, The Goldman Sachs Group upped their price target on shares of Cisco Systems from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus target price of $54.10.

Cisco Systems 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.

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

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