Great Diamond Partners LLC Sells 3,770 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Great Diamond Partners LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 38.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,944 shares of the network equipment provider’s stock after selling 3,770 shares during the period. Great Diamond Partners LLC’s holdings in Cisco Systems were worth $316,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Summit Securities Group LLC bought a new stake in Cisco Systems in the second quarter worth about $25,000. Quarry LP grew its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC grew its position in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the last quarter. Retirement Group LLC increased its stake in Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems during the second quarter worth $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction that occurred on 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 over the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $55.59 on Thursday. The firm has a market capitalization of $221.84 billion, a P/E ratio of 21.89, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $57.06. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average price of $52.44 and a 200 day moving average price of $49.00.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 earnings per share. Sell-side analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 62.99%.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several recent analyst reports. Tigress Financial raised their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Rosenblatt Securities increased their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Monday. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.74.

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.