Brown Capital Management LLC cut its position in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 8,542 shares of the network equipment provider’s stock after selling 300 shares during the period. Brown Capital Management LLC’s holdings in Cisco Systems were worth $245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSCO. Riggs Asset Managment Co. Inc. raised its position in shares of Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock worth $102,000 after buying an additional 225 shares during the period. Mercer Capital Advisers Inc. raised its position in shares of Cisco Systems by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 4,760 shares of the network equipment provider’s stock worth $137,000 after buying an additional 35 shares during the period. Parasol Investment Management LLC raised its position in shares of Cisco Systems by 94.1% in the second quarter. Parasol Investment Management LLC now owns 5,240 shares of the network equipment provider’s stock worth $150,000 after buying an additional 2,540 shares during the period. Vigilant Capital Management LLC raised its position in shares of Cisco Systems by 995.5% in the second quarter. Vigilant Capital Management LLC now owns 5,839 shares of the network equipment provider’s stock worth $168,000 after buying an additional 5,306 shares during the period. Finally, D. Scott Neal Inc. raised its position in shares of Cisco Systems by 48.0% in the second quarter. D. Scott Neal Inc. now owns 6,171 shares of the network equipment provider’s stock worth $177,000 after buying an additional 2,000 shares during the period. Institutional investors own 75.04% of the company’s stock.

Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.26% during trading on Tuesday, hitting $31.10. 15,878,662 shares of the company traded hands. Cisco Systems Inc. has a one year low of $22.46 and a one year high of $31.95. The stock has a market cap of $155.95 billion, a price-to-earnings ratio of 14.74 and a beta of 1.37. The firm has a 50 day moving average price of $31.10 and a 200-day moving average price of $29.07.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.57 billion. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. Cisco Systems’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.59 EPS. Analysts predict that Cisco Systems Inc. will post $2.43 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 annualized dividend and a yield of 3.34%. Cisco Systems’s payout ratio is 49.06%.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 23rd. Cowen and Company reiterated a “buy” rating on shares of Cisco Systems in a research note on Tuesday, July 12th. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $32.00 price target on shares of Cisco Systems in a research note on Thursday, August 18th. Morgan Stanley boosted their price target on shares of Cisco Systems from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 18th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $32.11.

In other Cisco Systems news, EVP Pankaj Patel sold 9,891 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $29.03, for a total transaction of $287,135.73. Following the transaction, the executive vice president now owns 356,307 shares of the company’s stock, valued at approximately $10,343,592.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carol Bartz sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $31.25, for a total transaction of $468,750.00. Following the transaction, the director now directly owns 23,104 shares in the company, valued at approximately $722,000. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Cisco Systems Company Profile

Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.

5 Day Chart for NASDAQ:CSCO

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