Butensky & Cohen Financial Security Inc. Reduces Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Butensky & Cohen Financial Security Inc. lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% during the second quarter, HoldingsChannel reports. The fund owned 93,387 shares of the network equipment provider’s stock after selling 3,266 shares during the quarter. Cisco Systems makes up about 1.7% of Butensky & Cohen Financial Security Inc.’s portfolio, making the stock its 3rd biggest holding. Butensky & Cohen Financial Security Inc.’s holdings in Cisco Systems were worth $4,832,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. United Bank bought a new position in Cisco Systems during the first quarter worth $645,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cisco Systems by 32.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock valued at $236,593,000 after buying an additional 1,040,607 shares during the period. Roundview Capital LLC increased its holdings in Cisco Systems by 13.1% in the 1st quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock valued at $588,000 after buying an additional 1,221 shares during the period. Merit Financial Group LLC increased its holdings in Cisco Systems by 21.5% in the 1st quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock valued at $656,000 after buying an additional 2,079 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Cisco Systems by 8.1% in the 1st quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock valued at $135,470,000 after buying an additional 182,857 shares during the period. Institutional investors own 72.21% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, CFO Richard Scott Herren sold 2,579 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $50.65, for a total transaction of $130,626.35. Following the completion of the transaction, the chief financial officer now directly owns 281,493 shares of the company’s stock, valued at approximately $14,257,620.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Richard Scott Herren sold 2,579 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $50.65, for a total value of $130,626.35. Following the completion of the transaction, the chief financial officer now directly owns 281,493 shares of the company’s stock, valued at $14,257,620.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 2,158 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $55.15, for a total transaction of $119,013.70. Following the completion of the transaction, the executive vice president now directly owns 173,618 shares of the company’s stock, valued at $9,575,032.70. The disclosure for this sale can be found here. Insiders sold 54,438 shares of company stock valued at $2,948,779 in the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $56.11 on Tuesday. The company has a market capitalization of $227.52 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 2.50 and a beta of 0.97. The firm’s 50 day simple moving average is $54.20 and its 200 day simple moving average is $51.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27. Cisco Systems, Inc. has a fifty-two week low of $38.60 and a fifty-two week high of $58.19.

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

Cisco Systems Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CSCO shares. Oppenheimer reissued an “outperform” rating and issued a $58.00 price target on shares of Cisco Systems in a report on Thursday, August 17th. Raymond James upped their target price on shares of Cisco Systems from $64.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, August 17th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $55.00 to $62.00 in a report on Wednesday, July 19th. 51job reaffirmed an “initiates” rating on shares of Cisco Systems in a report on Friday, June 30th. Finally, Evercore ISI upped their target price on shares of Cisco Systems from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $59.43.

Cisco Systems Company Profile

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.