JFS Wealth Advisors LLC Reduces Position in Cisco Systems, Inc. (CSCO)
JFS Wealth Advisors LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,793 shares of the network equipment provider’s stock after selling 452 shares during the period. JFS Wealth Advisors LLC’s holdings in Cisco Systems were worth $213,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Barnett & Company Inc. grew its holdings in Cisco Systems by 1,511.5% during the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after acquiring an additional 3,023 shares in the last quarter. Grove Bank & Trust grew its holdings in Cisco Systems by 141.3% during the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after acquiring an additional 2,120 shares in the last quarter. Watermark Asset Management Inc. acquired a new position in Cisco Systems during the 1st quarter worth approximately $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in Cisco Systems by 15.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after acquiring an additional 560 shares in the last quarter. Finally, Baystate Wealth Management LLC grew its holdings in Cisco Systems by 24.5% during the 1st quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock worth $146,000 after acquiring an additional 1,484 shares in the last quarter. Hedge funds and other institutional investors own 75.32% of the company’s stock.
In other Cisco Systems news, SVP Mark D. Chandler sold 65,000 shares of Cisco Systems stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $32.43, for a total transaction of $2,107,950.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of Cisco Systems stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the transaction, the chief accounting officer now directly owns 119,996 shares in the company, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 485,138 shares of company stock worth $15,347,574. Company insiders own 0.11% of the company’s stock.
Several research firms have commented on CSCO. Berenberg Bank set a $33.00 price target on shares of Cisco Systems and gave the stock a “hold” rating in a report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a report on Saturday, July 1st. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a report on Friday. Credit Suisse Group reiterated a “buy” rating on shares of Cisco Systems in a report on Thursday, August 10th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $32.00 price target on shares of Cisco Systems in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the company. Cisco Systems currently has an average rating of “Buy” and a consensus target price of $35.30.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at 34.25 on Friday. The firm’s 50 day moving average is $33.05 and its 200 day moving average is $32.35. The firm has a market capitalization of $169.60 billion, a PE ratio of 18.03 and a beta of 1.21. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. Cisco Systems’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. Analysts anticipate that Cisco Systems, Inc. will post $2.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 annualized dividend and a yield of 3.39%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.
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Cisco Systems 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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