Greatmark Investment Partners Inc. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 249,957 shares of the network equipment provider’s stock after selling 1,636 shares during the period. Cisco Systems makes up approximately 3.2% of Greatmark Investment Partners Inc.’s portfolio, making the stock its 6th biggest holding. Greatmark Investment Partners Inc.’s holdings in Cisco Systems were worth $8,406,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. Barnett & Company Inc. lifted its stake in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after purchasing an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after purchasing an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in Cisco Systems in the second quarter valued at approximately $104,000. Grove Bank & Trust raised its holdings in Cisco Systems by 141.3% during the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 2,120 shares during the period. Finally, Manchester Capital Management LLC raised its holdings in Cisco Systems by 10.7% during the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 350 shares during the period. Hedge funds and other institutional investors own 75.60% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $41.30 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. The firm has a market cap of $203,677.23, a PE ratio of 21.40, a PEG ratio of 3.73 and a beta of 1.20. Cisco Systems, Inc. has a 1-year low of $29.92 and a 1-year high of $41.48.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.81%. Cisco Systems’s dividend payout ratio is currently 60.10%.
A number of equities research analysts have issued reports on the stock. Barclays boosted their target price on shares of Cisco Systems from $37.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday. Jefferies Group boosted their target price on shares of Cisco Systems to $40.00 and gave the company a “buy” rating in a report on Thursday, November 16th. Deutsche Bank reissued a “buy” rating and set a $45.00 target price (up previously from $40.00) on shares of Cisco Systems in a report on Thursday, November 16th. Bank of America boosted their target price on shares of Cisco Systems from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, November 16th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $40.00 target price on shares of Cisco Systems in a report on Thursday, December 14th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and a consensus target price of $38.80.
In other news, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the sale, the senior vice president now directly owns 257,476 shares in the company, valued at $9,892,227.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John T. Chambers sold 250,000 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the sale, the insider now owns 712,736 shares of the company’s stock, valued at $26,014,864. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 348,643 shares of company stock valued at $12,892,271. 0.05% of the stock is currently owned by company insiders.
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Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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