SignalPoint Asset Management LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 32.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,676 shares of the network equipment provider’s stock after selling 6,527 shares during the quarter. SignalPoint Asset Management LLC’s holdings in Cisco Systems were worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Cisco Systems in the second quarter worth $231,000. Barnett & Company Inc. boosted its holdings in shares of Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after acquiring an additional 3,023 shares during the period. Tortoise Investment Management LLC boosted its holdings in shares of Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after acquiring an additional 878 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in Cisco Systems during the second quarter valued at $104,000. Finally, Manchester Capital Management LLC boosted its stake in Cisco Systems by 10.7% during the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 350 shares during the period. 75.55% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the company. Piper Jaffray Companies reissued an “overweight” rating and set a $44.00 price objective on shares of Cisco Systems in a research note on Wednesday. Vetr lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 price objective for the company. in a research note on Monday, September 25th. Berenberg Bank reissued a “hold” rating and set a $33.00 price objective on shares of Cisco Systems in a research note on Tuesday, October 24th. BMO Capital Markets reissued a “hold” rating and set a $32.00 price objective on shares of Cisco Systems in a research note on Monday, October 23rd. Finally, Citigroup reissued a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a research note on Thursday, November 16th. They noted that the move was a valuation call. One investment 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 given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.93.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $39.91 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. Cisco Systems, Inc. has a 52 week low of $29.80 and a 52 week high of $40.24. The stock has a market capitalization of $197,300.00, a PE ratio of 20.68, a price-to-earnings-growth ratio of 3.57 and a beta of 1.19.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The firm had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue was down 1.7% compared to the same quarter last year. sell-side analysts forecast that Cisco Systems, Inc. will post 2.21 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.16 annualized dividend and a dividend yield of 2.91%. Cisco Systems’s dividend payout ratio is currently 60.10%.
In other news, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the transaction, the insider now owns 712,736 shares in the company, valued at $26,014,864. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Karen Walker sold 5,786 shares of Cisco Systems stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $211,131.14. Following the completion of the transaction, the senior vice president now owns 176,418 shares in the company, valued at approximately $6,437,492.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 348,643 shares of company stock worth $12,892,271. Company insiders own 0.05% of the company’s stock.
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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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