Schmidt P J Investment Management Inc. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,883 shares of the network equipment provider’s stock after selling 2,533 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Cisco Systems were worth $3,073,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Hoey Investments Inc. bought a new stake in shares of Cisco Systems during the 2nd quarter valued at $26,000. Lion Street Advisors LLC acquired a new position in Cisco Systems in the first quarter valued at about $31,000. Bourgeon Capital Management LLC bought a new position in Cisco Systems during the first quarter worth about $32,000. Emerald Advisers LLC acquired a new position in shares of Cisco Systems during the 2nd quarter worth about $38,000. Finally, Avondale Wealth Management increased its stake in shares of Cisco Systems by 238.0% in the 1st quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock valued at $39,000 after acquiring an additional 707 shares during the last quarter. 71.36% of the stock is owned by institutional investors.

Several brokerages have commented on CSCO. Barclays downgraded shares of Cisco Systems to a “hold” rating in a research note on Thursday, July 9th. UBS Group reduced their target price on Cisco Systems from $54.00 to $51.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Morgan Stanley upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $54.00 price target for the company in a report on Thursday, July 9th. Wolfe Research began coverage on Cisco Systems in a report on Friday, July 24th. They set an “outperform” rating and a $54.00 price objective on the stock. Finally, Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $48.00 to $55.00 in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. Cisco Systems has an average rating of “Hold” and a consensus price target of $50.33.

NASDAQ CSCO opened at $47.10 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. The company has a market cap of $198.87 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 3.01 and a beta of 0.98. The company has a 50 day moving average of $46.07 and a 200-day moving average of $44.16. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $56.89.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.87 billion. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. During the same quarter in the prior year, the business posted $0.78 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Monday, July 6th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, July 2nd. Cisco Systems’s payout ratio is currently 50.53%.

In related news, CAO Prat Bhatt sold 5,703 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $44.87, for a total transaction of $255,893.61. Following the completion of the sale, the chief accounting officer now owns 85,613 shares of the company’s stock, valued at $3,841,455.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is owned by insiders.

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 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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