Tower Bridge Advisors Lowers Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Tower Bridge Advisors lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 55.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,167 shares of the network equipment provider’s stock after selling 71,477 shares during the quarter. Tower Bridge Advisors’ holdings in Cisco Systems were worth $3,096,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CSCO. Summit Securities Group LLC bought a new position in shares of Cisco Systems during the second quarter valued at approximately $25,000. Quarry LP lifted its holdings in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC boosted its position in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems in the 2nd quarter valued at $36,000. Finally, Iron Horse Wealth Management LLC raised its position in shares of Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after acquiring an additional 766 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

CSCO opened at $57.46 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38. The firm has a 50 day moving average of $54.18 and a two-hundred day moving average of $49.78. The firm has a market capitalization of $229.31 billion, a PE ratio of 24.66, a P/E/G ratio of 4.76 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. Cisco Systems’s payout ratio is 68.67%.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 1.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,924 shares of company stock valued at $1,798,131 over the last ninety days. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSCO. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. UBS Group raised their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday. Bank of America lifted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Rosenblatt Securities increased their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.42.

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 and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.