Jacobs & Co. CA Sells 2,836 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Jacobs & Co. CA lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 243,206 shares of the network equipment provider’s stock after selling 2,836 shares during the quarter. Cisco Systems makes up 1.5% of Jacobs & Co. CA’s investment portfolio, making the stock its 18th largest position. Jacobs & Co. CA’s holdings in Cisco Systems were worth $12,583,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSCO. Steward Financial Group LLC purchased a new position in Cisco Systems in the 4th quarter worth approximately $26,000. Altshuler Shaham Ltd purchased a new position in shares of Cisco Systems during the 1st quarter valued at about $32,000. Carmel Capital Partners LLC bought a new stake in Cisco Systems in the 1st quarter worth approximately $35,000. Tucker Asset Management LLC purchased a new position in shares of Cisco Systems during the first quarter worth approximately $35,000. Finally, Fortis Capital Advisors LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at $34,000. 72.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 6,186 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $54.65, for a total value of $338,064.90. Following the completion of the sale, the senior vice president now directly owns 64,493 shares in the company, valued at $3,524,542.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,158 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $55.15, for a total value of $119,013.70. Following the completion of the sale, the executive vice president now directly owns 173,618 shares in the company, valued at approximately $9,575,032.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 6,186 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $54.65, for a total value of $338,064.90. Following the completion of the transaction, the senior vice president now owns 64,493 shares of the company’s stock, valued at $3,524,542.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,438 shares of company stock valued at $2,948,779. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Raymond James raised their price target 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, August 21st. Citigroup increased their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. BNP Paribas assumed coverage on Cisco Systems in a research report on Thursday, July 20th. They set an “underperform” rating and a $45.00 price target on the stock. Finally, Jefferies Financial Group upped their price target on Cisco Systems from $54.00 to $59.50 and gave the stock a “buy” rating in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $59.43.

Cisco Systems Trading Up 0.1 %

CSCO opened at $56.11 on Tuesday. Cisco Systems, Inc. has a 12 month low of $38.60 and a 12 month high of $58.19. The stock has a fifty day moving average price of $54.20 and a 200-day moving average price of $51.17. The firm has a market cap of $227.52 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.50 and a beta of 0.97. The company has a current ratio of 1.38, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share for the quarter, beating 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 business had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.05 billion. During the same period last year, the business earned $0.74 EPS. The company’s revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.58 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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

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 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.