Kathmere Capital Management LLC Sells 5,921 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Kathmere Capital Management LLC lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,093 shares of the network equipment provider’s stock after selling 5,921 shares during the period. Kathmere Capital Management LLC’s holdings in Cisco Systems were worth $1,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Steward Financial Group LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth about $26,000. Altshuler Shaham Ltd bought a new stake in shares of Cisco Systems during the 1st quarter worth about $32,000. Carmel Capital Partners LLC bought a new stake in shares of Cisco Systems during the 1st quarter worth about $35,000. Tucker Asset Management LLC bought a new stake in shares of Cisco Systems during the 1st quarter worth about $35,000. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth about $34,000. Institutional investors own 72.21% of the company’s stock.

Cisco Systems Trading Down 0.6 %

CSCO opened at $56.04 on Monday. Cisco Systems, Inc. has a fifty-two week low of $38.60 and a fifty-two week high of $58.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27. The firm has a market capitalization of $227.23 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 2.49 and a beta of 0.97. The company’s 50 day moving average price is $54.20 and its two-hundred day moving average price is $51.17.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. The firm had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.05 billion. During the same period in the previous year, the firm posted $0.74 EPS. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, research analysts predict that Cisco Systems, Inc. will post 3.58 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Tuesday, October 3rd. Cisco Systems’s dividend payout ratio is currently 50.81%.

Insider Activity

In other news, CEO Charles Robbins sold 17,687 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $55.16, for a total value of $975,614.92. Following the sale, the chief executive officer now directly owns 716,191 shares of the company’s stock, valued at approximately $39,505,095.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Deborah L. Stahlkopf sold 3,022 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total transaction of $169,896.84. Following the transaction, the executive vice president now owns 169,396 shares in the company, valued at approximately $9,523,443.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 17,687 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $55.16, for a total transaction of $975,614.92. Following the transaction, the chief executive officer now owns 716,191 shares in the company, valued at approximately $39,505,095.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,438 shares of company stock valued at $2,948,779. 0.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CSCO. Morgan Stanley lifted their price objective on shares of Cisco Systems from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 17th. 51job reiterated an “initiates” rating on shares of Cisco Systems in a research note on Friday, June 30th. BNP Paribas began coverage on shares of Cisco Systems in a research note on Thursday, July 20th. They issued an “underperform” rating and a $45.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, August 21st. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $55.00 to $62.00 in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average target price of $59.43.

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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.