Penbrook Management LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 22,700 shares of the network equipment provider’s stock after selling 4,000 shares during the quarter. Cisco Systems comprises about 1.2% of Penbrook Management LLC’s investment portfolio, making the stock its 25th largest position. Penbrook Management LLC’s holdings in Cisco Systems were worth $1,122,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Evolution Wealth Advisors LLC acquired a new stake in shares of Cisco Systems in the second quarter worth $33,000. Lowe Wealth Advisors LLC acquired a new stake in shares of Cisco Systems in the second quarter worth $38,000. Personal Wealth Partners acquired a new stake in shares of Cisco Systems in the second quarter worth $44,000. Ashburton Jersey Ltd acquired a new stake in Cisco Systems during the second quarter valued at $49,000. Finally, Lucia Wealth Services LLC boosted its position in Cisco Systems by 72.3% during the second quarter. Lucia Wealth Services LLC now owns 1,144 shares of the network equipment provider’s stock valued at $63,000 after purchasing an additional 480 shares during the last quarter. 73.31% of the stock is owned by institutional investors and hedge funds.
NASDAQ CSCO opened at $46.56 on Friday. Cisco Systems, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $58.26. The stock’s 50-day moving average is $48.12 and its two-hundred day moving average is $53.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46. The firm has a market cap of $198.85 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 2.26 and a beta of 1.28.
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 Thomson Reuters’ consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company had revenue of $13.43 billion for the quarter, compared to analyst estimates of $13.39 billion. During the same period last year, the company earned $0.70 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 3.05 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.40 annualized dividend and a yield of 3.01%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.12%.
A number of analysts recently issued reports on the company. Citigroup reduced their price objective on Cisco Systems from $65.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. set a $62.00 price objective on Cisco Systems and gave the company a “buy” rating in a research report on Monday, August 12th. Goldman Sachs Group cut Cisco Systems from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $56.00 to $48.00 in a research report on Thursday. Raymond James reissued an “overweight” rating on shares of Cisco Systems in a research report on Friday, August 16th. Finally, BidaskClub cut Cisco Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $56.04.
In other news, EVP Mark D. Chandler sold 10,733 shares of Cisco Systems stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $50.05, for a total value of $537,186.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 18,955 shares of Cisco Systems stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $50.04, for a total value of $948,508.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,130 shares of company stock worth $9,359,179. Corporate insiders own 0.03% of the company’s stock.
About Cisco Systems
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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