Allred Capital Management LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 17,672 shares of the network equipment provider’s stock after selling 1,107 shares during the quarter. Allred Capital Management LLC’s holdings in Cisco Systems were worth $696,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hoey Investments Inc. purchased a new stake in Cisco Systems during the second quarter valued at about $26,000. FNY Investment Advisers LLC lifted its holdings in Cisco Systems by 79,900.0% during the third quarter. FNY Investment Advisers LLC now owns 800 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 799 shares during the last quarter. Emerald Advisers LLC purchased a new stake in Cisco Systems during the second quarter valued at about $38,000. Larson Financial Group LLC lifted its holdings in Cisco Systems by 61.1% during the second quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock valued at $44,000 after purchasing an additional 356 shares during the last quarter. Finally, Ovata Capital Management Ltd purchased a new stake in Cisco Systems during the second quarter valued at about $44,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

CSCO stock opened at $40.16 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $39.95 and its 200 day moving average is $43.30. The stock has a market cap of $170.01 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $50.28.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. The business had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period last year, the business earned $0.83 earnings per share. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Thursday, October 1st. Cisco Systems’s payout ratio is currently 49.32%.

In other Cisco Systems news, EVP Irving Tan sold 4,141 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $42.08, for a total transaction of $174,253.28. Following the transaction, the executive vice president now directly owns 125,860 shares in the company, valued at $5,296,188.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Prat Bhatt sold 2,873 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $42.11, for a total transaction of $120,982.03. Following the transaction, the chief accounting officer now owns 82,006 shares in the company, valued at $3,453,272.66. The disclosure for this sale can be found here. Insiders have sold 60,166 shares of company stock worth $2,528,248 over the last quarter. Company insiders own 0.03% of the company’s stock.

Several research firms have commented on CSCO. Robert W. Baird reaffirmed a “hold” rating and set a $48.00 price objective on shares of Cisco Systems in a report on Monday, August 10th. ValuEngine downgraded shares of Cisco Systems from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Royal Bank of Canada reissued a “buy” rating and issued a $48.00 price target on shares of Cisco Systems in a report on Thursday, August 13th. Wolfe Research downgraded shares of Cisco Systems from an “outperform” rating to a “peer perform” rating and set a $42.00 price target on the stock. in a report on Friday, September 18th. Finally, Goldman Sachs Group reissued a “neutral” rating and issued a $45.00 price target on shares of Cisco Systems in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the company’s stock. Cisco Systems has an average rating of “Hold” and an average target price of $47.45.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.