Allred Capital Management LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.9% in the third quarter, Holdings Channel reports. The fund owned 17,672 shares of the network equipment provider’s stock after selling 1,107 shares during the period. Allred Capital Management LLC’s holdings in Cisco Systems were worth $696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cedar Brook Financial Partners LLC increased its stake in Cisco Systems by 3.3% in the second quarter. Cedar Brook Financial Partners LLC now owns 6,712 shares of the network equipment provider’s stock valued at $313,000 after acquiring an additional 216 shares during the period. Ferris Capital LLC increased its stake in Cisco Systems by 2.3% in the second quarter. Ferris Capital LLC now owns 10,113 shares of the network equipment provider’s stock valued at $472,000 after acquiring an additional 224 shares during the period. Armbruster Capital Management Inc. increased its stake in Cisco Systems by 3.2% in the second quarter. Armbruster Capital Management Inc. now owns 7,277 shares of the network equipment provider’s stock valued at $339,000 after acquiring an additional 227 shares during the period. NEXT Financial Group Inc increased its stake in Cisco Systems by 0.5% in the second quarter. NEXT Financial Group Inc now owns 49,129 shares of the network equipment provider’s stock valued at $2,291,000 after acquiring an additional 230 shares during the period. Finally, Strategic Wealth Management Group LLC increased its stake in Cisco Systems by 2.8% in the second quarter. Strategic Wealth Management Group LLC now owns 8,766 shares of the network equipment provider’s stock valued at $409,000 after acquiring an additional 235 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on CSCO. BidaskClub cut shares of Cisco Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. William Blair reissued a “market perform” rating on shares of Cisco Systems in a research note on Thursday, August 13th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Cisco Systems in a research note on Thursday, August 13th. JPMorgan Chase & Co. decreased their price objective on shares of Cisco Systems from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, August 13th. Finally, Credit Suisse Group upped their price objective on shares of Cisco Systems from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. Cisco Systems presently has an average rating of “Hold” and a consensus target price of $47.45.

Cisco Systems stock opened at $40.16 on Friday. The company has a market cap of $170.01 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $50.28. The company has a fifty day simple moving average of $39.95 and a 200 day simple moving average of $43.30. The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. The business had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $12.09 billion. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. During the same quarter last year, the firm earned $0.83 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Thursday, October 1st. Cisco Systems’s dividend payout ratio (DPR) is currently 49.32%.

In other Cisco Systems news, EVP Irving Tan sold 4,141 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $42.08, for a total value of $174,253.28. Following the completion of the sale, the executive vice president now owns 125,860 shares in the company, valued at $5,296,188.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Prat Bhatt sold 2,873 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $42.11, for a total transaction of $120,982.03. Following the completion of the sale, the chief accounting officer now owns 82,006 shares of the company’s stock, valued at approximately $3,453,272.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,166 shares of company stock valued at $2,528,248. 0.03% of the stock is owned by insiders.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

See Also: Earnings Per Share (EPS) Explained

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

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