Benin Management CORP Sells 239 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Benin Management CORP trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,766 shares of the network equipment provider’s stock after selling 239 shares during the period. Cisco Systems makes up approximately 0.6% of Benin Management CORP’s holdings, making the stock its 26th largest holding. Benin Management CORP’s holdings in Cisco Systems were worth $2,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in Cisco Systems during the second quarter valued at approximately $25,000. Quarry LP boosted its holdings in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC boosted its holdings in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Retirement Group LLC boosted its holdings in shares of Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems in the 2nd quarter worth approximately $36,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Up 0.2 %

Shares of NASDAQ CSCO traded up $0.11 during mid-day trading on Monday, hitting $56.87. The company had a trading volume of 2,115,799 shares, compared to its average volume of 19,097,674. The company has a market capitalization of $229.12 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The firm has a 50-day simple moving average of $51.17 and a two-hundred day simple moving average of $48.60. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $57.06.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter last year, the company earned $1.01 EPS. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, equities analysts expect 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. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This trade represents 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 sold 70,529 shares of company stock worth $3,509,049. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CSCO. Barclays reduced their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Evercore ISI upped their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Finally, 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 report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.74.

About Cisco Systems

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.