Brave Asset Management Inc. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,252 shares of the network equipment provider’s stock after selling 1,600 shares during the period. Brave Asset Management Inc.’s holdings in Cisco Systems were worth $884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. 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 valued at $101,000 after buying an additional 3,023 shares during 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 valued at $113,000 after buying an additional 2,120 shares during the last quarter. Watermark Asset Management Inc. acquired a new stake in Cisco Systems during the 1st quarter valued at $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 valued at $145,000 after buying an additional 560 shares during 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 valued at $146,000 after buying an additional 1,484 shares during the last quarter. 75.32% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have commented on the company. Berenberg Bank set a $33.00 target price on Cisco Systems and gave the company a “hold” rating in a report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 target price on Cisco Systems and gave the company a “buy” rating in a report on Saturday, July 1st. Stifel Nicolaus set a $34.00 target price on Cisco Systems and gave the company a “hold” rating in a report on Tuesday, August 15th. JMP Securities reiterated a “market perform” rating on shares of Cisco Systems in a report on Friday, August 18th. Finally, Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $32.45 target price on the stock in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $35.30.

In related news, SVP Mark D. Chandler sold 65,000 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.43, for a total value of $2,107,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John T. Chambers sold 250,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the transaction, the insider now directly owns 729,305 shares of the company’s stock, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. Insiders sold 485,138 shares of company stock valued at $15,347,574 in the last three months. Company insiders own 0.11% of the company’s stock.

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Cisco Systems, Inc. (CSCO) opened at 34.25 on Friday. The firm has a 50-day moving average price of $33.05 and a 200-day moving average price of $32.35. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60. The firm has a market capitalization of $169.60 billion, a P/E ratio of 18.03 and a beta of 1.21.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same quarter in the prior year, the business posted $0.63 earnings per share. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. Equities analysts forecast that Cisco Systems, Inc. will post $2.43 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.39%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.

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).

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

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