Vista Investment Partners LLC Sells 884 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Vista Investment Partners LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 27,325 shares of the network equipment provider’s stock after selling 884 shares during the quarter. Vista Investment Partners LLC’s holdings in Cisco Systems were worth $1,298,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Raymond James & Associates grew its stake in shares of Cisco Systems by 0.9% in the 2nd quarter. Raymond James & Associates now owns 13,305,175 shares of the network equipment provider’s stock valued at $632,129,000 after buying an additional 117,351 shares during the period. Signet Investment Advisory Group Inc. increased its holdings in shares of Cisco Systems by 3.1% during the second quarter. Signet Investment Advisory Group Inc. now owns 75,205 shares of the network equipment provider’s stock valued at $3,573,000 after acquiring an additional 2,260 shares in the last quarter. Marietta Wealth Management LLC acquired a new position in shares of Cisco Systems during the second quarter worth approximately $404,000. OFI Invest Asset Management lifted its holdings in shares of Cisco Systems by 39,018.3% in the 2nd quarter. OFI Invest Asset Management now owns 278,522 shares of the network equipment provider’s stock worth $12,347,000 after purchasing an additional 277,810 shares in the last quarter. Finally, Oakworth Capital Inc. increased its stake in Cisco Systems by 3.2% during the 2nd quarter. Oakworth Capital Inc. now owns 30,933 shares of the network equipment provider’s stock valued at $1,470,000 after purchasing an additional 956 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO traded up $0.93 during mid-day trading on Friday, reaching $49.46. 27,424,886 shares of the stock traded hands, compared to its average volume of 19,935,170. The company has a market cap of $199.27 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $58.19. The firm has a fifty day moving average price of $46.74 and a 200 day moving average price of $47.88. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the business earned $1.01 earnings per share. The firm’s revenue was down 10.3% on a year-over-year basis. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CSCO shares. Barclays dropped their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday. Jefferies Financial Group cut their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.89.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the transaction, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the transaction, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. In the last three months, insiders sold 33,090 shares of company stock worth $1,522,231. 0.02% of the stock is currently owned by corporate insiders.

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 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.