Cisco Systems, Inc. (CSCO) Shares Sold by Joel Isaacson & Co. LLC
Joel Isaacson & Co. LLC cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 66.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,431 shares of the network equipment provider’s stock after selling 34,805 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Cisco Systems were worth $586,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. acquired a new position in Cisco Systems in the 2nd quarter valued at $231,000. Barnett & Company Inc. grew its stake in Cisco Systems by 1,511.5% in 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. Tortoise Investment Management LLC grew its stake in Cisco Systems by 36.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Cisco Systems in the 2nd quarter valued at $104,000. Finally, Manchester Capital Management LLC grew its stake in Cisco Systems by 10.7% in the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 75.60% of the company’s stock.
In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the completion of the transaction, the insider now directly owns 712,736 shares of the company’s stock, valued at $26,014,864. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Karen Walker sold 5,786 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total transaction of $211,131.14. Following the completion of the transaction, the senior vice president now directly owns 176,418 shares of the company’s stock, valued at $6,437,492.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 348,643 shares of company stock valued at $12,892,271. Insiders own 0.05% of the company’s stock.
Several research firms have issued reports on CSCO. Oppenheimer restated a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a research report on Friday, October 20th. Piper Jaffray Companies restated a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a research report on Thursday, October 12th. KeyCorp set a $33.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Wednesday, October 11th. ValuEngine upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Finally, Jefferies Group restated a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a research report on Friday, October 6th. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $38.47.
Cisco Systems, Inc. (CSCO) opened at $41.20 on Thursday. Cisco Systems, Inc. has a 1-year low of $29.84 and a 1-year high of $41.32. The stock has a market cap of $203,680.00, a PE ratio of 21.35, a P/E/G ratio of 3.67 and a beta of 1.19. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the firm posted $0.61 EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. equities analysts predict that Cisco Systems, Inc. will post 2.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, January 4th. Cisco Systems’s dividend payout ratio is presently 60.10%.
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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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