Camarda Financial Advisors LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,095 shares of the network equipment provider’s stock after selling 2,044 shares during the period. Camarda Financial Advisors LLC’s holdings in Cisco Systems were worth $566,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CSCO. Watermark Asset Management Inc. bought a new position in shares of Cisco Systems in the first quarter worth $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of Cisco Systems by 15.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after acquiring an additional 560 shares during the period. Baystate Wealth Management LLC boosted its holdings in shares of Cisco Systems by 24.5% in the first quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock worth $146,000 after acquiring an additional 1,484 shares during the period. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Cisco Systems by 23.1% in the first quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock worth $148,000 after acquiring an additional 823 shares during the period. Finally, Thompson Davis & CO. Inc. boosted its holdings in shares of Cisco Systems by 14.3% in the first quarter. Thompson Davis & CO. Inc. now owns 4,441 shares of the network equipment provider’s stock worth $150,000 after acquiring an additional 555 shares during the period. 75.38% of the stock is owned by hedge funds and other institutional investors.
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CSCO has been the subject of a number of analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a report on Tuesday, June 13th. Drexel Hamilton reaffirmed a “buy” rating and issued a $39.00 price target on shares of Cisco Systems in a report on Sunday, June 25th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Cisco Systems in a report on Monday, June 26th. Wells Fargo & Company reissued an “outperform” rating and set a $37.50 price objective on shares of Cisco Systems in a research note on Monday, June 26th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $40.00 price objective on shares of Cisco Systems in a research note on Monday, June 26th. Fifteen investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $35.38.
In other Cisco Systems news, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the sale, the chief accounting officer now directly owns 119,996 shares in the company, valued at $3,847,071.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the sale, the insider now owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 485,138 shares of company stock worth $15,347,574. 0.11% of the stock is currently owned by corporate insiders.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded down 0.50% during mid-day trading on Tuesday, hitting $33.59. The stock had a trading volume of 7,473,601 shares. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $34.60. The company’s 50 day moving average is $32.48 and its 200-day moving average is $32.34. The stock has a market cap of $166.34 billion, a P/E ratio of 17.68 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 the Thomson Reuters’ consensus estimate of $0.61. The company had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. Cisco Systems’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post $2.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.44%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s payout ratio is 60.73%.
Cisco Systems 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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