Coco Enterprises LLC Reduces Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Coco Enterprises LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 10.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,706 shares of the network equipment provider’s stock after selling 2,146 shares during the quarter. Cisco Systems makes up approximately 0.7% of Coco Enterprises LLC’s portfolio, making the stock its 22nd biggest holding. Coco Enterprises LLC’s holdings in Cisco Systems were worth $895,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. WealthPlan Investment Management LLC bought a new stake in Cisco Systems in the 3rd quarter worth $393,000. Jump Financial LLC bought a new stake in shares of Cisco Systems in the third quarter worth about $763,000. Strategic Financial Concepts LLC bought a new position in Cisco Systems during the 3rd quarter valued at approximately $252,000. Avantax Advisory Services Inc. lifted its holdings in Cisco Systems by 2.8% in the 3rd quarter. Avantax Advisory Services Inc. now owns 313,665 shares of the network equipment provider’s stock worth $16,863,000 after buying an additional 8,516 shares during the period. Finally, Western Wealth Management LLC lifted its holdings in Cisco Systems by 3.4% in the 3rd quarter. Western Wealth Management LLC now owns 79,694 shares of the network equipment provider’s stock worth $4,284,000 after buying an additional 2,591 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.07 during trading hours on Monday, hitting $46.57. The company’s stock had a trading volume of 11,830,781 shares, compared to its average volume of 19,436,039. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a 12-month low of $45.85 and a 12-month high of $58.19. The business has a 50 day moving average price of $48.07 and a two-hundred day moving average price of $49.05. The company has a market cap of $187.62 billion, a PE ratio of 15.68, a PEG ratio of 2.69 and a beta of 0.86.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. Analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Friday, July 5th. Cisco Systems’s payout ratio is presently 53.87%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CSCO. Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company in a research report on Monday, May 13th. UBS Group upped their price target on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Wells Fargo & Company raised their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average price target of $56.47.

Check Out Our Latest Analysis on CSCO

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the sale, the senior vice president now directly owns 52,953 shares in the company, valued at $2,430,013.17. The disclosure for this sale can be found here. Insiders have sold a total of 57,166 shares of company stock valued at $2,727,647 in the last quarter. 0.02% of the stock is currently owned by insiders.

Cisco Systems Company Profile

(Free Report)

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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

See Also

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

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