L. Roy Papp & Associates LLP Sells 1,123 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

L. Roy Papp & Associates LLP cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,995 shares of the network equipment provider’s stock after selling 1,123 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Cisco Systems were worth $1,703,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of Cisco Systems in the second quarter worth about $25,000. Quarry LP grew its position in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC grew its holdings in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Retirement Group LLC lifted its holdings in shares of Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the 2nd quarter worth approximately $36,000. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the sale, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock traded down $0.22 during trading hours on Friday, reaching $55.74. The company’s stock had a trading volume of 14,680,466 shares, compared to its average volume of 19,091,068. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06. The firm’s 50 day simple moving average is $52.12 and its 200-day simple moving average is $48.86. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $224.57 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CSCO shares. Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Evercore ISI boosted their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Tigress Financial lifted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.74.

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.