Allred Capital Management LLC Sells 1,055 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Allred Capital Management LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.8% in the third quarter, Holdings Channel.com reports. The fund owned 17,129 shares of the network equipment provider’s stock after selling 1,055 shares during the quarter. Allred Capital Management LLC’s holdings in Cisco Systems were worth $817,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its stake in shares of Cisco Systems by 1,546.1% during the second quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock worth $2,642,650,000 after acquiring an additional 45,351,980 shares in the last quarter. Thoroughbred Financial Services LLC increased its stake in shares of Cisco Systems by 5,677.4% in the second quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock worth $361,628,000 after buying an additional 3,553,686 shares during the period. APG Asset Management N.V. increased its stake in shares of Cisco Systems by 28.5% in the fourth quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock worth $422,131,000 after buying an additional 2,472,300 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Cisco Systems in the second quarter worth $125,277,000. Finally, Railway Pension Investments Ltd purchased a new position in shares of Cisco Systems in the second quarter worth $10,371,000. Institutional investors own 73.31% of the company’s stock.

Several research analysts recently commented on the stock. Nomura lifted their target price on shares of Cisco Systems from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Evercore ISI assumed coverage on shares of Cisco Systems in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $60.00 target price on the stock. Credit Suisse Group set a $50.00 target price on shares of Cisco Systems and gave the stock a “neutral” rating in a research note on Tuesday, August 27th. BidaskClub downgraded shares of Cisco Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 31st. Finally, UBS Group set a $58.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $56.60.

In other news, EVP David Goeckeler sold 70,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $49.22, for a total transaction of $3,445,400.00. Following the sale, the executive vice president now owns 429,398 shares in the company, valued at approximately $21,134,969.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mark D. Chandler sold 546 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $47.92, for a total transaction of $26,164.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,130 shares of company stock worth $9,359,179. Company insiders own 0.03% of the company’s stock.

Shares of CSCO stock traded up $0.20 during mid-day trading on Monday, reaching $47.72. 2,628,860 shares of the company’s stock traded hands, compared to its average volume of 19,974,242. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26. The company has a market cap of $199.78 billion, a P/E ratio of 16.74, a P/E/G ratio of 2.27 and a beta of 1.28. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $48.18 and its 200-day moving average price is $53.41.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The firm had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts predict that Cisco Systems, Inc. will post 3.05 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.

Cisco Systems Company 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.

Read More: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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

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