Boenning & Scattergood Inc. Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Boenning & Scattergood Inc. reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,572 shares of the network equipment provider’s stock after selling 3,785 shares during the quarter. Boenning & Scattergood Inc.’s holdings in Cisco Systems were worth $1,783,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Baystate Wealth Management LLC increased its stake in shares of Cisco Systems by 2.0% in the second quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock valued at $600,000 after buying an additional 202 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Cisco Systems by 6.1% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,609 shares of the network equipment provider’s stock worth $156,000 after purchasing an additional 207 shares during the period. Bigelow Investment Advisors LLC grew its stake in Cisco Systems by 0.5% during the fourth quarter. Bigelow Investment Advisors LLC now owns 44,515 shares of the network equipment provider’s stock worth $1,929,000 after purchasing an additional 235 shares during the period. Winfield Associates Inc. grew its stake in Cisco Systems by 3.0% during the second quarter. Winfield Associates Inc. now owns 8,250 shares of the network equipment provider’s stock worth $452,000 after purchasing an additional 239 shares during the period. Finally, M&R Capital Management Inc. grew its stake in Cisco Systems by 1.7% during the fourth quarter. M&R Capital Management Inc. now owns 14,639 shares of the network equipment provider’s stock worth $634,000 after purchasing an additional 242 shares during the period. Institutional investors and hedge funds own 74.28% of the company’s stock.

Several research firms recently commented on CSCO. ValuEngine cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Piper Jaffray Companies increased their price target on Cisco Systems from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. set a $62.00 price target on Cisco Systems and gave the stock a “buy” rating in a report on Monday. Robert W. Baird reiterated a “buy” rating and issued a $57.00 price target on shares of Cisco Systems in a report on Monday. Finally, MKM Partners cut their price target on Cisco Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $56.24.

In related news, Director Steven M. West sold 20,000 shares of Cisco Systems stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the sale, the director now directly owns 5,263 shares in the company, valued at $295,833.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems 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 sale, the chief financial officer now owns 349,122 shares in the company, valued at $18,698,974.32. The disclosure for this sale can be found here. Insiders have sold 95,129 shares of company stock worth $5,159,754 over the last quarter. 0.03% of the stock is currently owned by corporate insiders.

CSCO stock opened at $46.25 on Friday. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $58.26. 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 stock’s 50 day moving average is $55.38 and its 200-day moving average is $53.88. The firm has a market capitalization of $225.68 billion, a PE ratio of 16.23, a P/E/G ratio of 2.41 and a beta of 1.18.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01. The company had revenue of $13.43 billion for the quarter, compared to analyst estimates of $13.39 billion. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.70 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.12 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 3.03%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.12%.

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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