Arrow Financial Corp reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,280 shares of the network equipment provider’s stock after selling 215 shares during the quarter. Arrow Financial Corp’s holdings in Cisco Systems were worth $446,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Kelly Lawrence W & Associates Inc. CA lifted its position in shares of Cisco Systems by 3.8% during the second quarter. Kelly Lawrence W & Associates Inc. CA now owns 161,271 shares of the network equipment provider’s stock valued at $5,047,000 after purchasing an additional 5,900 shares in the last quarter. Summit Financial Group Inc. bought a new position in shares of Cisco Systems during the second quarter valued at about $972,000. Joel Isaacson & Co. LLC lifted its position in shares of Cisco Systems by 0.4% during the second quarter. Joel Isaacson & Co. LLC now owns 52,236 shares of the network equipment provider’s stock valued at $1,635,000 after purchasing an additional 189 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Cisco Systems during the second quarter valued at about $175,000. Finally, Legacy Capital Partners Inc. lifted its position in shares of Cisco Systems by 5.7% during the second quarter. Legacy Capital Partners Inc. now owns 121,269 shares of the network equipment provider’s stock valued at $3,796,000 after purchasing an additional 6,495 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

In related news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the completion of the transaction, the insider now directly owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Mark D. Chandler sold 65,000 shares of Cisco Systems stock in a transaction on Monday, September 18th. The stock was sold at an average price of $32.43, for a total transaction of $2,107,950.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 485,138 shares of company stock valued at $15,347,574. 0.05% of the stock is currently owned by insiders.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same period last year, the firm posted $0.63 earnings per share. Cisco Systems’s revenue for the quarter was down 4.0% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Thursday, October 5th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.

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A number of research analysts recently weighed in on the stock. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price target on the stock in a research report on Wednesday, September 6th. Robert W. Baird reissued a “buy” rating and set a $38.00 price target on shares of Cisco Systems in a research report on Monday, September 11th. Piper Jaffray Companies reissued a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research report on Thursday, August 17th. Berenberg Bank set a $33.00 price target on shares of Cisco Systems and gave the company a “hold” rating in a research report on Thursday, August 17th. Finally, Bank of America Corporation reissued a “neutral” rating and set a $35.00 price target on shares of Cisco Systems in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $35.30.

Cisco Systems Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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

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