Tower Bridge Advisors Decreases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Tower Bridge Advisors lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 55.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,167 shares of the network equipment provider’s stock after selling 71,477 shares during the period. Tower Bridge Advisors’ holdings in Cisco Systems were worth $3,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CSCO. Summit Securities Group LLC purchased a new position in Cisco Systems in the 2nd quarter valued at $25,000. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares in the last quarter. Quarry LP boosted its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC lifted its stake in Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after purchasing an additional 766 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, 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 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 22,309 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the sale, the chief financial officer now directly owns 293,184 shares in the company, valued at $14,659,200. This trade represents a 7.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,924 shares of company stock valued at $1,798,131. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $57.46 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The company has a fifty day simple moving average of $54.18 and a two-hundred day simple moving average of $49.78. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market cap of $229.31 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 4.76 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the business posted $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Analyst Ratings Changes

Several analysts have issued reports on the company. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Evercore ISI upped their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Barclays raised their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Bank of America increased their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.42.

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.