Cisco Systems, Inc. (CSCO) Stake Cut by Malaga Cove Capital LLC

Malaga Cove Capital LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 30,666 shares of the network equipment provider’s stock after selling 245 shares during the period. Malaga Cove Capital LLC’s holdings in Cisco Systems were worth $964,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in CSCO. Butensky & Cohen Financial Security Inc. boosted its stake in shares of Cisco Systems by 0.4% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 65,486 shares of the network equipment provider’s stock valued at $2,050,000 after buying an additional 290 shares during the last quarter. Longer Investments Inc. boosted its stake in shares of Cisco Systems by 0.6% in the second quarter. Longer Investments Inc. now owns 63,995 shares of the network equipment provider’s stock valued at $2,003,000 after buying an additional 360 shares during the last quarter. Prospera Financial Services Inc boosted its stake in shares of Cisco Systems by 18.7% in the second quarter. Prospera Financial Services Inc now owns 19,428 shares of the network equipment provider’s stock valued at $603,000 after buying an additional 3,054 shares during the last quarter. Dalton Greiner Hartman Maher & Co. boosted its stake in shares of Cisco Systems by 1.3% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 684,341 shares of the network equipment provider’s stock valued at $21,420,000 after buying an additional 8,496 shares during the last quarter. Finally, Founders Capital Management boosted its stake in shares of Cisco Systems by 5.7% in the second quarter. Founders Capital Management now owns 61,249 shares of the network equipment provider’s stock valued at $1,917,000 after buying an additional 3,287 shares during the last quarter. Institutional investors own 75.28% of the company’s stock.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded up 1.09% during trading on Wednesday, reaching $32.44. 10,905,989 shares of the company’s stock traded hands. The stock has a market capitalization of $162.20 billion, a PE ratio of 16.47 and a beta of 1.24. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60. The company has a 50 day moving average price of $31.53 and a 200 day moving average price of $32.57. Cisco Systems also saw some unusual options trading on Tuesday. Investors purchased 24,568 put options on the company. This is an increase of 223% compared to the average volume of 7,606 put options.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The company had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. During the same period in the prior year, the company posted $0.57 EPS. Cisco Systems’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s payout ratio is 58.29%.

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CSCO has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Cisco Systems from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Morgan Stanley raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $33.45 to $39.00 in a report on Monday, May 15th. Credit Suisse Group raised shares of Cisco Systems from an “underperform” rating to an “outperform” rating and boosted their price target for the stock from $27.00 to $40.00 in a report on Thursday, April 27th. Barclays PLC reissued an “overweight” rating on shares of Cisco Systems in a report on Saturday, April 22nd. Finally, William Blair reissued an “outperform” rating on shares of Cisco Systems in a report on Monday, July 3rd. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $35.31.

In other Cisco Systems news, SVP Karen Walker sold 7,802 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total value of $244,124.58. Following the transaction, the senior vice president now directly owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the transaction, the senior vice president now directly owns 271,725 shares in the company, valued at $8,616,399.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 396,179 shares of company stock worth $12,503,407. 0.11% of the stock is currently owned by corporate insiders.

About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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