Auxier Asset Management Sells 611 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Auxier Asset Management lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,393 shares of the network equipment provider’s stock after selling 611 shares during the period. Auxier Asset Management’s holdings in Cisco Systems were worth $2,157,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its holdings in shares of Cisco Systems by 1.1% during the fourth quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock valued at $1,183,000 after purchasing an additional 264 shares during the last quarter. Gryphon Financial Partners LLC lifted its holdings in shares of Cisco Systems by 104.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock valued at $1,177,000 after buying an additional 11,767 shares during the period. Tidemark LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth $41,000. BlackDiamond Wealth Management LLC grew its holdings in shares of Cisco Systems by 5.5% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 4,750 shares of the network equipment provider’s stock worth $235,000 after acquiring an additional 247 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in Cisco Systems by 5.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 798,798 shares of the network equipment provider’s stock valued at $40,355,000 after acquiring an additional 39,276 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the sale, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at $8,181,307.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,529 shares of company stock valued at $3,509,049. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Jefferies Financial Group cut their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Rosenblatt Securities upped their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.11.

Cisco Systems Trading Up 1.0 %

Shares of CSCO opened at $51.97 on Friday. The firm has a market cap of $209.38 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $54.58. The company has a 50 day simple moving average of $48.52 and a two-hundred day simple moving average of $48.05.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the company posted $1.01 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.08%. Cisco Systems’s dividend payout ratio is currently 53.87%.

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 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.