Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Cut by SignalPoint Asset Management LLC

SignalPoint Asset Management LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 32.3% during the third quarter, according to the company in its most recent disclosure with the 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 SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Barnett & Company Inc. raised its holdings in shares of Cisco Systems by 1,511.5% during the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after purchasing an additional 3,023 shares during the period. Tortoise Investment Management LLC increased its position in shares of Cisco Systems by 36.1% during 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 in the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in shares of Cisco Systems during the second quarter worth about $104,000. Grove Bank & Trust increased its position in shares of Cisco Systems by 141.3% during the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after acquiring an additional 2,120 shares in the last quarter. Finally, Manchester Capital Management LLC increased its position in shares of 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 worth $113,000 after acquiring an additional 350 shares in the last quarter. 75.69% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems, Inc. (NASDAQ CSCO) traded down $0.77 during midday trading on Friday, reaching $40.93. 26,153,088 shares of the company’s stock traded hands, compared to its average volume of 21,250,000. Cisco Systems, Inc. has a fifty-two week low of $30.36 and a fifty-two week high of $42.98. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. The stock has a market cap of $202,340.00, a PE ratio of 21.21, a PEG ratio of 3.74 and a beta of 1.23.

Cisco Systems (NASDAQ:CSCO) last posted its 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 net margin of 20.26% and a return on equity of 16.64%. The business had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the company posted $0.61 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. analysts forecast that Cisco Systems, Inc. will post 2.22 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.83%. The ex-dividend date was Thursday, January 4th. Cisco Systems’s dividend payout ratio is presently 60.10%.

Several research firms have recently commented on CSCO. Piper Jaffray Companies reissued an “overweight” rating and set a $44.00 target price on shares of Cisco Systems in a research report on Wednesday, January 10th. ValuEngine raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday. Berenberg Bank reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Cisco Systems in a research report on Tuesday, October 24th. BMO Capital Markets reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Cisco Systems in a research report on Monday, October 23rd. Finally, Citigroup reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a research report on Thursday, November 16th. They noted that the move was a valuation call. Twelve equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $39.26.

In other news, SVP Rebecca Jacoby sold 75,021 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the sale, the senior vice president now owns 257,476 shares in the company, valued at approximately $9,892,227.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Karen Walker sold 5,786 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $211,131.14. Following the sale, 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. Insiders sold a total of 348,643 shares of company stock worth $12,892,271 over the last quarter. Corporate insiders own 0.05% of the company’s stock.

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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).

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

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