Court Place Advisors LLC Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Court Place Advisors LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,560 shares of the network equipment provider’s stock after selling 4,714 shares during the quarter. Cisco Systems comprises approximately 1.8% of Court Place Advisors LLC’s portfolio, making the stock its 12th biggest holding. Court Place Advisors LLC’s holdings in Cisco Systems were worth $6,097,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Financial Management Network Inc. purchased a new stake in Cisco Systems in the 3rd quarter worth approximately $421,000. Blackston Financial Advisory Group LLC grew its position in shares of Cisco Systems by 12.9% in the third quarter. Blackston Financial Advisory Group LLC now owns 11,447 shares of the network equipment provider’s stock valued at $609,000 after purchasing an additional 1,306 shares during the period. Ballentine Partners LLC grew its position in shares of Cisco Systems by 7.3% in the third quarter. Ballentine Partners LLC now owns 72,908 shares of the network equipment provider’s stock valued at $3,880,000 after purchasing an additional 4,974 shares during the period. Heritage Oak Wealth Advisors LLC purchased a new position in Cisco Systems during the third quarter worth about $205,000. Finally, Cross Staff Investments Inc boosted its stake in Cisco Systems by 1.6% in the 3rd quarter. Cross Staff Investments Inc now owns 13,033 shares of the network equipment provider’s stock worth $694,000 after buying an additional 209 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The stock was 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 approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction 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 of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,529 shares of company stock valued at $3,509,049. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Up 0.7 %

CSCO stock traded up $0.41 during trading on Friday, reaching $56.37. The stock had a trading volume of 1,704,012 shares, compared to its average volume of 19,028,391. The firm has a fifty day moving average price of $51.85 and a 200 day moving average price of $48.77. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $227.10 billion, a P/E ratio of 18.84, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06.

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

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Jefferies Financial Group cut their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Evercore ISI boosted their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $56.74.

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.