Kidder Stephen W reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 55.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,400 shares of the network equipment provider’s stock after selling 30,588 shares during the quarter. Kidder Stephen W’s holdings in Cisco Systems were worth $765,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. CGOV Asset Management lifted its position in Cisco Systems by 7.3% during the first quarter. CGOV Asset Management now owns 544,815 shares of the network equipment provider’s stock valued at $24,532,000 after purchasing an additional 37,266 shares during the last quarter. Reliance Trust Co. of Delaware lifted its position in Cisco Systems by 5.2% during the first quarter. Reliance Trust Co. of Delaware now owns 106,441 shares of the network equipment provider’s stock valued at $3,598,000 after purchasing an additional 5,254 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its position in Cisco Systems by 3.6% during the first quarter. Farmers & Merchants Investments Inc. now owns 198,601 shares of the network equipment provider’s stock valued at $6,713,000 after purchasing an additional 6,818 shares during the last quarter. Financial Management Professionals Inc. lifted its position in Cisco Systems by 17.7% during the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock valued at $118,000 after purchasing an additional 635 shares during the last quarter. Finally, Cohen Capital Management Inc. lifted its position in Cisco Systems by 1.0% during the first quarter. Cohen Capital Management Inc. now owns 230,327 shares of the network equipment provider’s stock valued at $7,785,000 after purchasing an additional 2,356 shares during the last quarter. Institutional investors own 75.38% of the company’s stock.

In related news, CEO Charles Robbins sold 121,390 shares of Cisco Systems stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the completion of the sale, the chief executive officer now owns 552,694 shares of the company’s stock, valued at $17,719,369.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of Cisco Systems stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value 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 sold 485,138 shares of company stock valued at $15,347,574. Corporate insiders own 0.11% of the company’s stock.

Several equities research analysts have issued reports on the stock. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $36.00 target price on shares of Cisco Systems in a research report on Monday, September 25th. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 target price for the company. in a research report on Monday, September 25th. ValuEngine upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. BMO Capital Markets reiterated a “hold” rating and set a $32.00 target price on shares of Cisco Systems in a research report on Thursday, September 28th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Tuesday, September 19th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $35.56.

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Cisco Systems, Inc. (NASDAQ CSCO) opened at 33.44 on Thursday. The company has a market cap of $165.59 billion, a PE ratio of 17.60 and a beta of 1.21. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60. The firm’s 50-day moving average is $32.27 and its 200 day moving average is $32.36.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the consensus estimate of $0.61. The business had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. Analysts predict that Cisco Systems, Inc. will post $2.43 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.47%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is presently 60.73%.

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).

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

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