3Chopt Investment Partners LLC Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

3Chopt Investment Partners LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,296 shares of the network equipment provider’s stock after selling 5,720 shares during the period. 3Chopt Investment Partners LLC’s holdings in Cisco Systems were worth $2,437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CSCO. Granite Bay Wealth Management LLC acquired a new stake in Cisco Systems in the 2nd quarter worth about $3,358,000. Pathway Financial Advisers LLC raised its stake in Cisco Systems by 0.3% during the second quarter. Pathway Financial Advisers LLC now owns 92,565 shares of the network equipment provider’s stock worth $4,392,000 after purchasing an additional 321 shares during the period. EP Wealth Advisors LLC boosted its holdings in Cisco Systems by 8.3% in the second quarter. EP Wealth Advisors LLC now owns 1,262,765 shares of the network equipment provider’s stock valued at $59,994,000 after acquiring an additional 97,087 shares during the last quarter. Brandes Investment Partners LP raised its holdings in shares of Cisco Systems by 22.5% in the 2nd quarter. Brandes Investment Partners LP now owns 559,483 shares of the network equipment provider’s stock worth $26,579,000 after purchasing an additional 102,659 shares during the period. Finally, Kimelman & Baird LLC acquired a new stake in Cisco Systems during the 2nd quarter worth approximately $1,131,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems 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 in the company, valued at $2,258,974.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Up 0.4 %

NASDAQ:CSCO opened at $53.22 on Tuesday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $54.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The business has a 50 day simple moving average of $49.14 and a 200 day simple moving average of $48.16. The firm has a market capitalization of $214.41 billion, a P/E ratio of 17.92, a P/E/G ratio of 4.11 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analyst Ratings Changes

Several research firms have recently issued reports on CSCO. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Barclays lowered their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Evercore ISI boosted their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Rosenblatt Securities increased their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group dropped their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and an average price target of $55.00.

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.