Watch Point Trust Co cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 28,916 shares of the network equipment provider’s stock after selling 1,250 shares during the period. Watch Point Trust Co’s holdings in Cisco Systems were worth $905,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Seven Eight Capital LP purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $112,000. Financial Management Professionals Inc. raised its stake in shares of Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock valued at $118,000 after buying an additional 635 shares in the last quarter. Watermark Asset Management Inc. purchased a new stake in shares of Cisco Systems during the first quarter valued at $122,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $128,000. Finally, Jackson Grant Investment Advisers Inc. raised its stake in shares of Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock valued at $128,000 after buying an additional 4,150 shares in the last quarter. 75.39% of the stock is owned by hedge funds and other institutional investors.

Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at 31.86 on Tuesday. The firm has a market capitalization of $159.30 billion, a P/E ratio of 16.17 and a beta of 1.24. The firm’s 50-day moving average is $31.56 and its 200 day moving average is $32.43. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The firm had revenue of $11.94 billion during the quarter, compared to the consensus estimate of $11.90 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 58.29%.

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CSCO has been the subject of several research analyst reports. Robert W. Baird reissued a “buy” rating on shares of Cisco Systems in a report on Monday, May 1st. Vetr lowered Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price objective for the company. in a report on Wednesday, April 26th. Jefferies Group LLC reissued a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a report on Wednesday, April 26th. Deutsche Bank AG reissued a “buy” rating and issued a $42.00 price objective on shares of Cisco Systems in a report on Monday, April 10th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a report on Tuesday, May 16th. Thirteen research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $35.31.

In related news, SVP Karen Walker sold 7,802 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the completion of the transaction, the senior vice president now directly owns 178,577 shares in the company, valued at $5,587,674.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the transaction, the senior vice president now owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The disclosure for this sale can be found here. Insiders have sold 396,179 shares of company stock valued at $12,503,407 in the last ninety days. Corporate insiders own 0.11% of the company’s stock.

Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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