Gould Capital LLC Trims Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Gould Capital LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 98.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 639 shares of the network equipment provider’s stock after selling 59,071 shares during the quarter. Gould Capital LLC’s holdings in Cisco Systems were worth $34,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the second quarter valued at $25,000. West Financial Advisors LLC lifted its holdings in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares in the last quarter. Quarry LP boosted its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the period. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems in the 3rd quarter worth about $40,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the second quarter worth approximately $36,000. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 351,860 shares of company stock worth $20,231,558. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 1.6 %

NASDAQ:CSCO opened at $58.95 on Tuesday. The firm has a 50 day moving average of $56.65 and a 200 day moving average of $51.05. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.23. The stock has a market capitalization of $234.78 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 4.46 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.71%. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CSCO shares. Jefferies Financial Group lowered their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Morgan Stanley upped their target price on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Barclays raised their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Citigroup lifted their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Bank of America increased their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Company 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.