Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Trimmed by Raymond James Trust N.A.

Raymond James Trust N.A. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 579,096 shares of the network equipment provider’s stock after selling 9,745 shares during the quarter. Cisco Systems accounts for approximately 0.9% of Raymond James Trust N.A.’s investment portfolio, making the stock its 23rd largest position. Raymond James Trust N.A.’s holdings in Cisco Systems were worth $24,692,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pittenger & Anderson Inc. boosted its position in shares of Cisco Systems by 3.9% in the 2nd quarter. Pittenger & Anderson Inc. now owns 206,563 shares of the network equipment provider’s stock valued at $8,808,000 after purchasing an additional 7,658 shares during the period. Butensky & Cohen Financial Security Inc. boosted its position in shares of Cisco Systems by 4.7% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 81,464 shares of the network equipment provider’s stock valued at $3,474,000 after purchasing an additional 3,685 shares during the period. Atalanta Sosnoff Capital LLC boosted its position in shares of Cisco Systems by 2.0% in the 2nd quarter. Atalanta Sosnoff Capital LLC now owns 201,280 shares of the network equipment provider’s stock valued at $8,583,000 after purchasing an additional 3,863 shares during the period. Zhang Financial LLC boosted its position in shares of Cisco Systems by 40.9% in the 2nd quarter. Zhang Financial LLC now owns 18,070 shares of the network equipment provider’s stock valued at $771,000 after purchasing an additional 5,242 shares during the period. Finally, RB Capital Management LLC boosted its position in shares of Cisco Systems by 11.6% in the 2nd quarter. RB Capital Management LLC now owns 15,411 shares of the network equipment provider’s stock valued at $657,000 after purchasing an additional 1,607 shares during the period. Institutional investors and hedge funds own 71.71% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, EVP Jeffery S. Sharritts sold 637 shares of Cisco Systems stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $44.69, for a total transaction of $28,467.53. Following the sale, the executive vice president now owns 166,370 shares of the company’s stock, valued at approximately $7,435,075.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Maria Martinez sold 2,831 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $48.39, for a total transaction of $136,992.09. Following the completion of the sale, the chief operating officer now owns 278,012 shares in the company, valued at $13,453,000.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jeffery S. Sharritts sold 637 shares of the business’s stock in a transaction on Tuesday, September 13th. The stock was 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 of the company’s stock, valued at approximately $7,435,075.30. The disclosure for this sale can be found here. In the last quarter, insiders have 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 Performance

CSCO opened at $41.15 on Friday. The firm has a market capitalization of $169.08 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The stock’s 50 day moving average price is $45.11 and its two-hundred day moving average price is $47.52. The company has a quick ratio of 1.33, a current ratio of 1.43 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.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The firm had revenue of $13.10 billion for the quarter, compared to analyst estimates of $12.78 billion. During the same quarter last year, the firm posted $0.76 EPS. The company’s revenue was down .2% on a year-over-year basis. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.1 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Tuesday, October 4th. Cisco Systems’s payout ratio is presently 53.90%.

Analyst Ratings Changes

A number of equities research analysts have commented on CSCO shares. Morgan Stanley raised their price objective on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 18th. Rosenblatt Securities raised their price objective on Cisco Systems from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Cowen raised their price objective on Cisco Systems from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. JPMorgan Chase & Co. restated a “neutral” rating and set a $51.00 price objective (down from $62.00) on shares of Cisco Systems in a research report on Thursday, July 14th. Finally, Piper Sandler raised their price objective on Cisco Systems from $43.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $54.10.

Cisco Systems Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCOGet Rating).

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.