Abner Herrman & Brock LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,166 shares of the network equipment provider’s stock after selling 26 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Cisco Systems were worth $1,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Watermark Asset Management Inc. acquired a new position in shares of Cisco Systems in the 1st quarter valued at about $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in shares of Cisco Systems by 15.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock valued at $145,000 after purchasing an additional 560 shares during the period. Riggs Asset Managment Co. Inc. lifted its stake in shares of Cisco Systems by 23.1% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock valued at $148,000 after purchasing an additional 823 shares during the period. Thompson Davis & CO. Inc. lifted its stake in shares of Cisco Systems by 14.3% in the 1st quarter. Thompson Davis & CO. Inc. now owns 4,441 shares of the network equipment provider’s stock valued at $150,000 after purchasing an additional 555 shares during the period. Finally, American Beacon Advisors Inc. acquired a new position in shares of Cisco Systems in the 1st quarter valued at about $174,000. 75.38% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on CSCO. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the company a “hold” rating in a research note on Saturday, July 1st. Credit Suisse Group reissued a “hold” rating and issued a $35.00 price objective on shares of Cisco Systems in a research note on Friday. Sanford C. Bernstein set a $38.00 price objective on Cisco Systems and gave the company a “buy” rating in a research note on Saturday, July 1st. BMO Capital Markets reissued a “hold” rating and issued a $32.00 price objective on shares of Cisco Systems in a research note on Thursday, September 28th. Finally, Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price objective on the stock. in a research note on Wednesday, August 16th. Fifteen equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and an average price target of $35.38.

Cisco Systems, Inc. (CSCO) traded up 0.48% during midday trading on Friday, hitting $33.75. The company’s stock had a trading volume of 15,464,652 shares. The company’s 50 day moving average price is $32.39 and its 200 day moving average price is $32.37. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. The firm has a market cap of $167.13 billion, a P/E ratio of 17.76 and a beta of 1.21.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post $2.43 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s payout ratio is 60.73%.

In other news, SVP Karen Walker sold 23,110 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $740,906.60. Following the completion of the sale, the senior vice president now owns 192,774 shares of the company’s stock, valued at approximately $6,180,334.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Prat Bhatt sold 25,638 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the sale, the chief accounting officer now directly owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 485,138 shares of company stock valued at $15,347,574. Insiders own 0.11% of the company’s stock.

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Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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

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