Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Quest Capital Management Inc. ADV

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Quest Capital Management Inc. ADV lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 99.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 27,718 shares of the network equipment provider’s stock after selling 3,981,728 shares during the period. Quest Capital Management Inc. ADV’s holdings in Cisco Systems were worth $1,517,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. Arlington Financial Advisors LLC increased its position in Cisco Systems by 1.3% during the second quarter. Arlington Financial Advisors LLC now owns 110,926 shares of the network equipment provider’s stock worth $6,071,000 after buying an additional 1,400 shares during the last quarter. FLC Capital Advisors lifted its stake in Cisco Systems by 47.2% during the second quarter. FLC Capital Advisors now owns 7,545 shares of the network equipment provider’s stock worth $424,000 after purchasing an additional 2,420 shares during the period. Buckingham Asset Management LLC lifted its stake in Cisco Systems by 50.2% during the second quarter. Buckingham Asset Management LLC now owns 110,400 shares of the network equipment provider’s stock worth $6,042,000 after purchasing an additional 36,898 shares during the period. Eagle Asset Management Inc. lifted its stake in Cisco Systems by 3.1% during the second quarter. Eagle Asset Management Inc. now owns 2,895,551 shares of the network equipment provider’s stock worth $158,473,000 after purchasing an additional 86,153 shares during the period. Finally, Oakworth Capital Inc. increased its holdings in shares of Cisco Systems by 3.9% during the second quarter. Oakworth Capital Inc. now owns 28,076 shares of the network equipment provider’s stock worth $1,537,000 after buying an additional 1,061 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

In related news, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $53.56, for a total value of $3,749,200.00. Following the completion of the sale, the chief financial officer now directly owns 349,122 shares in the company, valued at $18,698,974.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark D. Chandler sold 546 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total value of $26,164.32. The disclosure for this sale can be found here. Insiders sold a total of 91,925 shares of company stock valued at $4,976,706 over the last three months. 0.03% of the stock is currently owned by insiders.

A number of research firms have commented on CSCO. JPMorgan Chase & Co. set a $62.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a report on Monday, August 12th. Raymond James reissued an “overweight” rating on shares of Cisco Systems in a research report on Friday, August 16th. KeyCorp cut their price target on shares of Cisco Systems from $60.00 to $56.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Oppenheimer boosted their price objective on shares of Cisco Systems from $52.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Citigroup lowered their price objective on shares of Cisco Systems from $65.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company’s stock. Cisco Systems has an average rating of “Buy” and a consensus target price of $56.59.

NASDAQ:CSCO opened at $47.91 on Friday. The firm’s 50-day moving average price is $54.34 and its 200-day moving average price is $53.77. The company has a market capitalization of $205.18 billion, a PE ratio of 16.81, a P/E/G ratio of 2.23 and a beta of 1.18. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46. Cisco Systems, Inc. has a 1-year low of $40.25 and a 1-year high of $58.26.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The business had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 EPS. Equities analysts anticipate that Cisco Systems, Inc. will post 3.06 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.92%. The ex-dividend date was Wednesday, July 3rd. Cisco Systems’s dividend payout ratio is 49.12%.

About Cisco Systems

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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