Salem Capital Management Inc. Has $8.99 Million Position in Cisco Systems, Inc. (CSCO)

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Salem Capital Management Inc. cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the third quarter, HoldingsChannel reports. The firm owned 184,825 shares of the network equipment provider’s stock after selling 1,550 shares during the period. Cisco Systems comprises 4.8% of Salem Capital Management Inc.’s holdings, making the stock its 3rd largest position. Salem Capital Management Inc.’s holdings in Cisco Systems were worth $8,992,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. JJJ Advisors Inc. purchased a new position in Cisco Systems during the 2nd quarter worth approximately $110,000. Legacy Advisors LLC raised its position in Cisco Systems by 597.6% during the 2nd quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock worth $148,000 after buying an additional 2,940 shares during the last quarter. Cerebellum GP LLC purchased a new position in Cisco Systems during the 2nd quarter worth approximately $174,000. Landaas & Co. WI ADV purchased a new position in Cisco Systems during the 2nd quarter worth approximately $184,000. Finally, Amussen Hunsaker Associates LLC purchased a new position in Cisco Systems during the 1st quarter worth approximately $196,000. Institutional investors own 69.30% of the company’s stock.

Shares of CSCO opened at $44.06 on Wednesday. Cisco Systems, Inc. has a 52-week low of $37.35 and a 52-week high of $49.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.05 and a current ratio of 2.11. The firm has a market cap of $212.93 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 2.59 and a beta of 1.15.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts forecast that Cisco Systems, Inc. will post 2.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Friday, January 4th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, January 3rd. This represents a $1.32 annualized dividend and a yield of 3.00%. Cisco Systems’s dividend payout ratio (DPR) is presently 56.41%.

A number of equities analysts have issued reports on CSCO shares. Deutsche Bank raised their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 15th. UBS Group set a $56.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Wednesday, September 26th. BidaskClub raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 25th. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday, October 3rd. Finally, Raymond James raised their price target on shares of Cisco Systems from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 15th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $50.87.

In other news, EVP David Goeckeler sold 63,050 shares of the business’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $2,999,288.50. Following the transaction, the executive vice president now owns 547,019 shares of the company’s stock, valued at approximately $26,021,693.83. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark D. Chandler sold 4,373 shares of the business’s stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $44.89, for a total transaction of $196,303.97. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 224,373 shares of company stock worth $10,594,929. 0.03% of the stock is currently owned by corporate insiders.

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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 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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