Capital Investment Counsel Inc Has $10.90 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Capital Investment Counsel Inc cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 229,390 shares of the network equipment provider’s stock after selling 705 shares during the period. Cisco Systems accounts for approximately 1.6% of Capital Investment Counsel Inc’s holdings, making the stock its 12th biggest holding. Capital Investment Counsel Inc’s holdings in Cisco Systems were worth $10,898,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CSCO. Delos Wealth Advisors LLC increased its holdings in shares of Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after acquiring an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $33,000. Retirement Group LLC increased its position in shares of Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems during the second quarter worth $36,000. Finally, Tidemark LLC bought a new stake in Cisco Systems in the 4th quarter valued at $41,000. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. Wells Fargo & Company raised their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Barclays decreased their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Finally, 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, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.89.

Insider Activity at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the sale, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at approximately $14,659,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the transaction, the chief financial officer now owns 293,184 shares of the company’s stock, valued at approximately $14,659,200. The disclosure for this sale can be found here. Insiders have sold a total of 90,004 shares of company stock worth $4,348,600 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Up 0.5 %

Shares of NASDAQ:CSCO traded up $0.26 during trading on Tuesday, reaching $50.24. 18,686,136 shares of the stock were exchanged, compared to its average volume of 19,905,492. The firm has a market cap of $202.41 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85. The stock has a fifty day moving average of $46.91 and a two-hundred day moving average of $47.86. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $58.19.

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

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

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.