Joel Isaacson & Co. LLC Has $1.16 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Joel Isaacson & Co. LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 23.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,407 shares of the network equipment provider’s stock after selling 7,313 shares during the period. Joel Isaacson & Co. LLC’s holdings in Cisco Systems were worth $1,157,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Summit X LLC boosted its position in shares of Cisco Systems by 2.0% in the third quarter. Summit X LLC now owns 57,052 shares of the network equipment provider’s stock worth $2,822,000 after buying an additional 1,142 shares during the period. Bridgeworth LLC boosted its position in Cisco Systems by 19.3% during the third quarter. Bridgeworth LLC now owns 7,540 shares of the network equipment provider’s stock valued at $373,000 after purchasing an additional 1,222 shares during the last quarter. SeaCrest Wealth Management LLC boosted its position in Cisco Systems by 13.6% during the third quarter. SeaCrest Wealth Management LLC now owns 72,120 shares of the network equipment provider’s stock valued at $3,563,000 after purchasing an additional 8,608 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its position in Cisco Systems by 32.6% during the third quarter. Sterling Investment Advisors Ltd. now owns 12,229 shares of the network equipment provider’s stock valued at $604,000 after purchasing an additional 3,004 shares during the last quarter. Finally, City Holding Co. boosted its position in Cisco Systems by 3.6% during the third quarter. City Holding Co. now owns 95,773 shares of the network equipment provider’s stock valued at $4,731,000 after purchasing an additional 3,289 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:CSCO traded up $0.23 on Wednesday, reaching $46.59. The company had a trading volume of 162,478 shares, compared to its average volume of 20,780,738. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $58.26. The stock has a 50-day moving average price of $48.07 and a 200 day moving average price of $53.07. The stock has a market capitalization of $197.66 billion, a P/E ratio of 16.35, a P/E/G ratio of 2.24 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.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be given a $0.35 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.00%. Cisco Systems’s dividend payout ratio is currently 49.12%.

A number of analysts recently issued reports on the company. BidaskClub cut Cisco Systems from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Barclays assumed coverage on Cisco Systems in a research report on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 price objective for the company. Cowen reduced their price objective on Cisco Systems from $65.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Morgan Stanley reduced their price objective on Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Finally, MKM Partners reduced their price objective on Cisco Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $56.04.

In other news, CEO Charles Robbins sold 18,955 shares of Cisco Systems stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $50.04, for a total value of $948,508.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $46.72, for a total value of $3,270,400.00. Following the completion of the transaction, the chief financial officer now owns 277,548 shares in the company, valued at $12,967,042.56. The disclosure for this sale can be found here. Insiders sold 193,130 shares of company stock valued at $9,359,179 in the last ninety days. Insiders own 0.03% of the company’s stock.

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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