Red Door Wealth Management LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,700 shares of the network equipment provider’s stock after buying an additional 691 shares during the period. Cisco Systems comprises 1.3% of Red Door Wealth Management LLC’s portfolio, making the stock its 24th largest holding. Red Door Wealth Management LLC’s holdings in Cisco Systems were worth $1,762,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hoey Investments Inc. bought a new stake in shares of Cisco Systems during the 2nd quarter valued at $26,000. FNY Investment Advisers LLC raised its holdings in Cisco Systems by 79,900.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 800 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 799 shares during the period. Emerald Advisers LLC purchased a new position in Cisco Systems during the second quarter valued at $38,000. Larson Financial Group LLC grew its holdings in Cisco Systems by 61.1% during the second quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock valued at $44,000 after purchasing an additional 356 shares during the period. Finally, Ovata Capital Management Ltd bought a new stake in Cisco Systems during the second quarter valued at about $44,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Cisco Systems stock opened at $40.16 on Friday. Cisco Systems, Inc. has a 52-week low of $32.40 and a 52-week high of $50.28. The company has a quick ratio of 1.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average is $39.95 and its 200 day moving average is $43.30. The company has a market cap of $170.01 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 2.16 and a beta of 0.87.

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

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

CSCO has been the topic of a number of analyst reports. Wolfe Research cut Cisco Systems from an “outperform” rating to a “peer perform” rating and set a $42.00 price objective on the stock. in a research report on Friday, September 18th. Robert W. Baird reaffirmed a “hold” rating and set a $48.00 price target on shares of Cisco Systems in a report on Monday, August 10th. Citigroup lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $48.00 to $43.00 in a research report on Monday, October 12th. Royal Bank of Canada restated a “buy” rating and set a $48.00 price objective on shares of Cisco Systems in a research report on Thursday, August 13th. Finally, Credit Suisse Group lifted their target price on shares of Cisco Systems from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $47.45.

In other Cisco Systems news, CFO Kelly A. Kramer sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $42.01, for a total transaction of $1,890,450.00. Also, CEO Charles Robbins sold 7,806 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $42.10, for a total transaction of $328,632.60. The disclosure for this sale can be found here. Insiders sold a total of 60,166 shares of company stock valued at $2,528,248 over the last ninety days. Corporate insiders own 0.03% of the company’s stock.

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.

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

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