Sterneck Capital Management LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,086 shares of the network equipment provider’s stock after purchasing an additional 1,292 shares during the quarter. Sterneck Capital Management LLC’s holdings in Cisco Systems were worth $909,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CSCO. Nordea Investment Management AB raised its position in shares of Cisco Systems by 103.2% in the 2nd quarter. Nordea Investment Management AB now owns 48,175,664 shares of the network equipment provider’s stock valued at $2,249,322,000 after buying an additional 24,469,149 shares in the last quarter. Public Investment Fund bought a new stake in Cisco Systems during the 1st quarter worth approximately $490,881,000. Advisor Group Holdings Inc. bought a new stake in Cisco Systems during the 1st quarter worth approximately $64,944,000. First Trust Advisors LP lifted its position in shares of Cisco Systems by 33.4% in the 2nd quarter. First Trust Advisors LP now owns 22,129,042 shares of the network equipment provider’s stock worth $1,032,099,000 after purchasing an additional 5,546,028 shares during the period. Finally, Capital International Investors lifted its position in shares of Cisco Systems by 199.6% in the 1st quarter. Capital International Investors now owns 6,604,661 shares of the network equipment provider’s stock worth $259,629,000 after purchasing an additional 4,400,427 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

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

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.06. The company had revenue of $12.15 billion during the quarter, compared to analyst estimates of $12.09 billion. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. During the same quarter in the prior year, the business earned $0.83 earnings per share. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.8 EPS for the current fiscal year.

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

A number of research firms recently issued reports on CSCO. UBS Group began coverage on shares of Cisco Systems in a research report on Wednesday, September 23rd. They set a “neutral” rating and a $41.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Cisco Systems from $50.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 13th. BidaskClub downgraded shares of Cisco Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. William Blair reiterated a “market perform” rating on shares of Cisco Systems in a research report on Thursday, August 13th. Finally, Bank of America dropped their target price on shares of Cisco Systems from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, September 16th. Two 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 stock. The company has a consensus rating of “Hold” and a consensus target price of $47.45.

In related news, CAO Prat Bhatt sold 2,873 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $42.11, for a total transaction of $120,982.03. Following the completion of the transaction, the chief accounting officer now owns 82,006 shares in the company, valued at $3,453,272.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kelly A. Kramer sold 45,000 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $42.01, for a total transaction of $1,890,450.00. In the last 90 days, insiders have sold 60,166 shares of company stock valued at $2,528,248. 0.03% of the stock is owned by company insiders.

About Cisco Systems

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.

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

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