Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Patron Partners LLC

Patron Partners LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,837 shares of the network equipment provider’s stock after selling 1,288 shares during the quarter. Patron Partners LLC’s holdings in Cisco Systems were worth $657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC purchased a new position in Cisco Systems in the 2nd quarter valued at $25,000. Retirement Group LLC grew its holdings in shares of Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems in the second quarter valued at about $36,000. Tidemark LLC purchased a new position in shares of Cisco Systems in the fourth quarter worth about $41,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Cisco Systems during the first quarter worth about $41,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CSCO. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Jefferies Financial Group reduced their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Barclays dropped their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average price target of $55.89.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the sale, the executive vice president now owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,944 shares of company stock valued at $3,566,120. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $48.50 on Friday. The stock has a market capitalization of $195.40 billion, a P/E ratio of 16.33, a PEG ratio of 3.98 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.09. The company has a 50 day moving average price of $47.84 and a 200 day moving average price of $47.94.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the business posted $1.01 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.30%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.