Leisure Capital Management Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Leisure Capital Management trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 32,748 shares of the network equipment provider’s stock after selling 459 shares during the period. Cisco Systems makes up about 0.8% of Leisure Capital Management’s investment portfolio, making the stock its 29th largest position. Leisure Capital Management’s holdings in Cisco Systems were worth $1,939,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP raised its position in Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after purchasing an additional 5,223,800 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in Cisco Systems by 5,231.5% during the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after purchasing an additional 4,842,542 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after purchasing an additional 3,975,028 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after buying an additional 3,241,682 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price target for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Citigroup increased their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays lifted their price objective on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company raised their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.72.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the sale, the senior vice president now owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 over the last three months. 0.01% of the stock is owned by company insiders.

Cisco Systems Trading Up 0.2 %

Shares of CSCO opened at $60.60 on Monday. The stock has a market capitalization of $241.36 billion, a PE ratio of 26.01, a P/E/G ratio of 4.51 and a beta of 0.84. The company’s fifty day moving average is $59.44 and its 200 day moving average is $54.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $62.31.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter last year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.64%. Cisco Systems’s dividend payout ratio is presently 68.67%.

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 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.