Whalerock Point Partners LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,280 shares of the network equipment provider’s stock after selling 8,797 shares during the period. Whalerock Point Partners LLC’s holdings in Cisco Systems were worth $1,455,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Csenge Advisory Group purchased a new stake in shares of Cisco Systems during the 3rd quarter worth $1,089,000. Syntal Capital Partners LLC purchased a new stake in shares of Cisco Systems during the 3rd quarter worth $147,000. Foundry Partners LLC lifted its position in shares of Cisco Systems by 35.4% during the 3rd quarter. Foundry Partners LLC now owns 539,080 shares of the network equipment provider’s stock worth $18,129,000 after purchasing an additional 141,010 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its position in shares of Cisco Systems by 90.3% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 13,627 shares of the network equipment provider’s stock worth $458,000 after purchasing an additional 6,465 shares during the last quarter. Finally, Parthenon LLC lifted its position in shares of Cisco Systems by 1.7% during the 3rd quarter. Parthenon LLC now owns 190,881 shares of the network equipment provider’s stock worth $6,419,000 after purchasing an additional 3,110 shares during the last quarter. 75.55% of the stock is owned by institutional investors.
In other news, SVP Karen Walker sold 5,786 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $211,131.14. Following the transaction, the senior vice president now directly owns 176,418 shares in the company, valued at $6,437,492.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rebecca Jacoby sold 75,021 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the transaction, the senior vice president now owns 257,476 shares in the company, valued at $9,892,227.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 348,643 shares of company stock worth $12,892,271. 0.05% of the stock is currently owned by company insiders.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. Cisco Systems’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 earnings per share. equities research analysts anticipate that Cisco Systems, Inc. will post 2.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a yield of 2.89%. Cisco Systems’s dividend payout ratio is presently 60.10%.
Several equities research analysts have recently issued reports on CSCO shares. Oppenheimer reaffirmed a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a research report on Friday, October 20th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Cisco Systems in a research report on Tuesday, November 14th. ValuEngine raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Vetr raised shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 price objective for the company in a research report on Wednesday, December 27th. Finally, Jefferies Group reiterated a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $37.93.
ILLEGAL ACTIVITY WARNING: This news story was originally posted by Markets Daily and is owned by of Markets Daily. If you are accessing this news story on another website, it was stolen and republished in violation of US and international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.themarketsdaily.com/2018/01/12/whalerock-point-partners-llc-sells-8797-shares-of-cisco-systems-inc-csco.html.
About Cisco Systems
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).
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.