Weatherly Asset Management L. P. Sells 73,868 Shares of Cisco Systems Inc. (CSCO)
Weatherly Asset Management L. P. cut its position in Cisco Systems Inc. (NASDAQ:CSCO) by 86.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,422 shares of the network equipment provider’s stock after selling 73,868 shares during the period. Weatherly Asset Management L. P.’s holdings in Cisco Systems were worth $2,132,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of CSCO. Benin Management CORP raised its stake in Cisco Systems by 26.9% in the first quarter. Benin Management CORP now owns 41,030 shares of the network equipment provider’s stock valued at $1,168,000 after buying an additional 8,700 shares during the last quarter. Wendell David Associates Inc. raised its stake in Cisco Systems by 1.3% in the first quarter. Wendell David Associates Inc. now owns 79,048 shares of the network equipment provider’s stock valued at $2,213,000 after buying an additional 1,003 shares during the last quarter. FirstMerit Bank N A Trustee raised its stake in Cisco Systems by 3.2% in the first quarter. FirstMerit Bank N A Trustee now owns 406,737 shares of the network equipment provider’s stock valued at $11,580,000 after buying an additional 12,600 shares during the last quarter. Peddock Capital Advisors LLC raised its stake in Cisco Systems by 1.4% in the first quarter. Peddock Capital Advisors LLC now owns 18,380 shares of the network equipment provider’s stock valued at $523,000 after buying an additional 252 shares during the last quarter. Finally, V Wealth Management LLC acquired a new stake in Cisco Systems during the first quarter valued at approximately $572,000. 75.00% of the stock is owned by institutional investors.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.03% during trading on Friday, reaching $31.47. 13,073,224 shares of the company traded hands. Cisco Systems Inc. has a 12 month low of $22.46 and a 12 month high of $31.95. The firm has a 50-day moving average price of $31.33 and a 200-day moving average price of $29.43. The firm has a market capitalization of $157.80 billion, a PE ratio of 14.91 and a beta of 1.49.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The company earned $12.60 billion during the quarter, compared to analyst estimates of $12.57 billion. During the same quarter last year, the firm posted $0.59 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities research analysts anticipate that Cisco Systems Inc. will post $2.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, October 3rd. This represents a $1.04 annualized dividend and a dividend yield of 3.30%. Cisco Systems’s dividend payout ratio (DPR) is 49.06%.
Several equities research analysts have commented on the stock. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $32.05 price target on the stock. in a report on Tuesday, September 13th. Jefferies Group reissued a “buy” rating and set a $35.00 target price on shares of Cisco Systems in a research note on Monday, August 29th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Cisco Systems in a research note on Wednesday, August 17th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 18th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Cisco Systems in a research note on Monday, June 27th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $32.50.
In other Cisco Systems news, SVP Karen Walker sold 10,244 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $31.17, for a total value of $319,305.48. Following the completion of the transaction, the senior vice president now directly owns 138,625 shares in the company, valued at $4,320,941.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Mark D. Chandler sold 25,024 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $30.44, for a total transaction of $761,730.56. Following the completion of the transaction, the senior vice president now owns 229,905 shares of the company’s stock, valued at $6,998,308.20. The disclosure for this sale can be found here. 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.
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