Cisco Systems, Inc. (CSCO) Shares Sold by SPC Financial Inc.

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SPC Financial Inc. trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,219 shares of the network equipment provider’s stock after selling 4,205 shares during the quarter. SPC Financial Inc.’s holdings in Cisco Systems were worth $2,025,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. IFG Advisory LLC bought a new stake in Cisco Systems during the 4th quarter worth about $2,375,000. Stonehearth Capital Management LLC bought a new stake in Cisco Systems during the 4th quarter worth about $102,000. Keeler Thomas Management LLC bought a new stake in Cisco Systems during the 4th quarter worth about $108,000. Goodman Financial Corp bought a new stake in Cisco Systems during the 4th quarter worth about $115,000. Finally, Certified Advisory Corp bought a new stake in Cisco Systems during the 4th quarter worth about $116,000. 73.76% of the stock is owned by institutional investors and hedge funds.

Cisco Systems opened at $43.20 on Friday, Marketbeat Ratings reports. Cisco Systems, Inc. has a twelve month low of $30.36 and a twelve month high of $46.37. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.34 and a quick ratio of 2.28. The company has a market cap of $207.92 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 3.07 and a beta of 1.09.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. The firm had revenue of $12.46 billion during the quarter, compared to the consensus estimate of $12.42 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. sell-side analysts forecast that Cisco Systems, Inc. will post 2.34 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Friday, July 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 61.40%.

Several analysts have weighed in on the company. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $46.32 price objective for the company. in a report on Wednesday, April 18th. JPMorgan Chase & Co. started coverage on Cisco Systems in a research report on Thursday, May 3rd. They set an “overweight” rating and a $57.00 target price for the company. Morgan Stanley boosted their target price on Cisco Systems from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Citigroup boosted their target price on Cisco Systems from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, March 16th. Finally, Credit Suisse Group started coverage on Cisco Systems in a research report on Wednesday, May 9th. They set a “neutral” rating and a $41.00 target price for the company. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $46.11.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

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

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