Arcadia Investment Management Corp MI Sells 303 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Arcadia Investment Management Corp MI decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,802 shares of the network equipment provider’s stock after selling 303 shares during the period. Arcadia Investment Management Corp MI’s holdings in Cisco Systems were worth $86,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mcintyre Freedman & Flynn Investment Advisers Inc. increased its stake in shares of Cisco Systems by 0.3% in the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after buying an additional 202 shares during the period. Baker Boyer National Bank increased its position in Cisco Systems by 2.6% during the 1st quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after purchasing an additional 210 shares during the period. Holland Advisory Services Inc. raised its holdings in Cisco Systems by 5.3% during the 1st quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock worth $211,000 after purchasing an additional 213 shares during the last quarter. WealthPLAN Partners LLC lifted its position in shares of Cisco Systems by 3.0% in the 1st quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock worth $369,000 after purchasing an additional 213 shares during the period. Finally, Ruedi Wealth Management Inc. boosted its stake in shares of Cisco Systems by 17.6% in the 1st quarter. Ruedi Wealth Management Inc. now owns 1,454 shares of the network equipment provider’s stock valued at $73,000 after purchasing an additional 218 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Down 1.1 %

CSCO traded down $0.53 during midday trading on Friday, reaching $48.60. 3,466,965 shares of the company were exchanged, compared to its average volume of 19,539,895. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $57.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The company’s fifty day moving average price is $47.82 and its 200 day moving average price is $47.94. The company has a market cap of $195.80 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 3.98 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. As a group, analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,944 shares of company stock worth $3,566,120. 0.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several recent analyst reports. Oppenheimer boosted their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research note on Monday, May 13th. Finally, Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems has a consensus rating of “Hold” and a consensus target price of $55.89.

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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.