Eagle Bay Advisors LLC Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Eagle Bay Advisors LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,060 shares of the network equipment provider’s stock after selling 196 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Cisco Systems were worth $429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Assets Advisory LLC bought a new stake in Cisco Systems in the first quarter valued at approximately $3,344,000. Brookstone Capital Management lifted its position in Cisco Systems by 9.4% in the first quarter. Brookstone Capital Management now owns 55,083 shares of the network equipment provider’s stock valued at $2,749,000 after purchasing an additional 4,712 shares during the last quarter. Sovereign Financial Group Inc. lifted its position in Cisco Systems by 16.5% in the first quarter. Sovereign Financial Group Inc. now owns 10,966 shares of the network equipment provider’s stock valued at $547,000 after purchasing an additional 1,555 shares during the last quarter. GoalVest Advisory LLC lifted its position in Cisco Systems by 31.8% in the first quarter. GoalVest Advisory LLC now owns 29,127 shares of the network equipment provider’s stock valued at $1,454,000 after purchasing an additional 7,035 shares during the last quarter. Finally, Key Client Fiduciary Advisors LLC lifted its position in Cisco Systems by 10.2% in the first quarter. Key Client Fiduciary Advisors LLC now owns 9,654 shares of the network equipment provider’s stock valued at $482,000 after purchasing an additional 893 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

NASDAQ CSCO traded down $0.19 during trading on Wednesday, hitting $56.41. 3,900,825 shares of the stock traded hands, compared to its average volume of 19,060,029. The company has a market capitalization of $227.27 billion, a P/E ratio of 19.06, 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 $51.63 and a 200-day simple moving average of $48.71. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results 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. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. As a group, analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analyst Ratings Changes

A number of equities analysts recently commented on CSCO shares. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price 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. Tigress Financial upped their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Barclays decreased 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. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.74.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The stock was 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 of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is currently owned by company insiders.

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.