Sawyer & Company Inc Sells 2,165 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sawyer & Company Inc trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,825 shares of the network equipment provider’s stock after selling 2,165 shares during the quarter. Cisco Systems makes up about 1.2% of Sawyer & Company Inc’s portfolio, making the stock its 27th biggest holding. Sawyer & Company Inc’s holdings in Cisco Systems were worth $1,797,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Truewealth LLC grew its stake in Cisco Systems by 6.7% in the fourth quarter. Truewealth LLC now owns 14,170 shares of the network equipment provider’s stock valued at $614,000 after purchasing an additional 890 shares in the last quarter. Butensky & Cohen Financial Security Inc. boosted its stake in shares of Cisco Systems by 1.8% during the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 47,771 shares of the network equipment provider’s stock worth $2,615,000 after acquiring an additional 859 shares during the period. Eastern Bank boosted its stake in shares of Cisco Systems by 0.3% during the 4th quarter. Eastern Bank now owns 112,876 shares of the network equipment provider’s stock worth $4,892,000 after acquiring an additional 354 shares during the period. IHT Wealth Management LLC boosted its stake in shares of Cisco Systems by 12.7% during the 4th quarter. IHT Wealth Management LLC now owns 28,846 shares of the network equipment provider’s stock worth $1,250,000 after acquiring an additional 3,240 shares during the period. Finally, Sanders Morris Harris LLC bought a new position in shares of Cisco Systems during the 2nd quarter worth approximately $1,445,000. Hedge funds and other institutional investors own 74.41% of the company’s stock.

NASDAQ CSCO traded down $2.54 during midday trading on Friday, hitting $52.85. The company had a trading volume of 17,728,226 shares, compared to its average volume of 12,985,524. The stock has a market cap of $237.11 billion, a P/E ratio of 22.59, a PEG ratio of 2.88 and a beta of 1.17. The company has a quick ratio of 1.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $56.55. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $58.26.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. The firm had revenue of $12.96 billion during the quarter, compared to analysts’ expectations of $12.89 billion. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were issued a $0.35 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $1.40 annualized dividend and a yield of 2.65%. Cisco Systems’s dividend payout ratio is presently 59.83%.

In other Cisco Systems news, Director Wesley G. Bush purchased 10,000 shares of the stock in a transaction dated Friday, June 7th. The stock was bought at an average price of $55.74 per share, with a total value of $557,400.00. Following the acquisition, the director now owns 3,017 shares of the company’s stock, valued at $168,167.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $53.56, for a total value of $3,749,200.00. Following the transaction, the chief financial officer now directly owns 349,122 shares of the company’s stock, valued at approximately $18,698,974.32. The disclosure for this sale can be found here. Insiders sold a total of 95,129 shares of company stock valued at $5,159,754 over the last ninety days. Insiders own 0.03% of the company’s stock.

CSCO has been the subject of several research analyst reports. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Tuesday, May 21st. JPMorgan Chase & Co. reiterated a “buy” rating and set a $60.00 target price on shares of Cisco Systems in a research note on Wednesday, June 12th. Piper Jaffray Companies lifted their target price on Cisco Systems from $52.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Credit Suisse Group reiterated a “neutral” rating and set a $52.00 target price (up from $47.00) on shares of Cisco Systems in a research note on Thursday, May 16th. Finally, Goldman Sachs Group downgraded Cisco Systems from a “conviction-buy” rating to a “buy” rating and lifted their target price for the stock from $58.00 to $62.00 in a research note on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $56.42.

Cisco Systems 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.

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

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