Murphy Capital Management Inc. Has $2.41 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Murphy Capital Management Inc. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,754 shares of the network equipment provider’s stock after selling 1,279 shares during the period. Murphy Capital Management Inc.’s holdings in Cisco Systems were worth $2,408,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Nuveen Asset Management LLC grew its stake in Cisco Systems by 1,546.1% during the second quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock worth $2,642,650,000 after buying an additional 45,351,980 shares during the last quarter. Thoroughbred Financial Services LLC grew its stake in Cisco Systems by 5,677.4% during the second quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock worth $361,628,000 after buying an additional 3,553,686 shares during the last quarter. APG Asset Management N.V. grew its stake in Cisco Systems by 28.5% during the fourth quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock worth $422,131,000 after buying an additional 2,472,300 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Cisco Systems during the second quarter worth about $125,277,000. Finally, Railway Pension Investments Ltd bought a new stake in Cisco Systems during the second quarter worth about $10,371,000. 73.31% of the stock is owned by hedge funds and other institutional investors.

CSCO stock traded up $1.03 during midday trading on Friday, reaching $47.18. The company’s stock had a trading volume of 11,777,965 shares, compared to its average volume of 19,983,844. Cisco Systems, Inc. has a 52 week low of $40.25 and a 52 week high of $58.26. The stock has a market cap of $196.94 billion, a PE ratio of 16.55, a price-to-earnings-growth 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. The business’s 50-day simple moving average is $48.15 and its 200-day simple moving average is $53.22.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The firm had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. During the same period last year, the firm earned $0.70 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.05 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.40 annualized dividend and a yield of 2.97%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.

Several analysts have weighed in on CSCO shares. Credit Suisse Group set a $50.00 price objective on shares of Cisco Systems and gave the stock a “neutral” rating in a research note on Tuesday, August 27th. Goldman Sachs Group cut shares of Cisco Systems from a “buy” rating to a “neutral” rating and decreased their price target for the company from $56.00 to $48.00 in a research note on Thursday. Cowen decreased their price target on shares of Cisco Systems from $65.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Raymond James reissued an “overweight” rating on shares of Cisco Systems in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. set a $62.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and an average price target of $56.04.

In other Cisco Systems news, CEO Charles Robbins sold 18,955 shares of the stock in a transaction on Friday, September 13th. The shares were 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 is available through the SEC website. Also, EVP David Goeckeler sold 70,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $49.22, for a total transaction of $3,445,400.00. Following the completion of the sale, the executive vice president now owns 429,398 shares in the company, valued at $21,134,969.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 193,130 shares of company stock worth $9,359,179. Company insiders own 0.03% of the company’s stock.

Cisco Systems Company 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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