Princeton Capital Management LLC Sells 1,329 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Princeton Capital Management LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 19,258 shares of the network equipment provider’s stock after selling 1,329 shares during the period. Princeton Capital Management LLC’s holdings in Cisco Systems were worth $1,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSCO. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems in the second quarter valued at $25,000. Quarry LP boosted its holdings in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the period. West Financial Advisors LLC lifted its position in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in Cisco Systems in the 2nd quarter worth about $36,000. Finally, Iron Horse Wealth Management LLC grew its stake in Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after acquiring an additional 766 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This trade represents a 6.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This represents a 5.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,615 shares of company stock worth $682,681. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Tigress Financial lifted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Bank of America upped their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $59.94.

Cisco Systems Stock Down 0.3 %

Cisco Systems stock opened at $57.31 on Tuesday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The firm has a market cap of $228.71 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 4.67 and a beta of 0.83. The business’s 50-day moving average price is $54.35 and its 200 day moving average price is $49.88. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

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 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.