BTC Capital Management Inc. Sells 3,554 Shares of Cisco Systems, Inc. (CSCO)

BTC Capital Management Inc. cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 165,522 shares of the network equipment provider’s stock after selling 3,554 shares during the quarter. BTC Capital Management Inc.’s holdings in Cisco Systems were worth $5,173,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Southeast Asset Advisors Inc. grew its holdings in shares of Cisco Systems by 0.5% during the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock worth $312,000 after buying an additional 44 shares in the last quarter. Ronald Blue & Co. LLC grew its holdings in shares of Cisco Systems by 0.3% during the second quarter. Ronald Blue & Co. LLC now owns 17,912 shares of the network equipment provider’s stock worth $561,000 after buying an additional 57 shares in the last quarter. Banced Corp grew its holdings in shares of Cisco Systems by 0.4% during the second quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock worth $442,000 after buying an additional 59 shares in the last quarter. Delta Asset Management LLC TN grew its holdings in shares of Cisco Systems by 0.4% during the second quarter. Delta Asset Management LLC TN now owns 17,489 shares of the network equipment provider’s stock worth $547,000 after buying an additional 72 shares in the last quarter. Finally, Telemus Capital LLC grew its holdings in shares of Cisco Systems by 0.6% during the second quarter. Telemus Capital LLC now owns 12,235 shares of the network equipment provider’s stock worth $383,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 75.22% of the company’s stock.

Cisco Systems, Inc. (NASDAQ CSCO) opened at $34.47 on Monday. The company has a market cap of $170,687.92, a PE ratio of 15.89, a PEG ratio of 3.01 and a beta of 1.15. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.75.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting the consensus estimate of $0.61. The business had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. research analysts expect that Cisco Systems, Inc. will post 2.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, October 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.37%. Cisco Systems’s dividend payout ratio is currently 60.73%.

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In other news, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the transaction, the insider now owns 729,305 shares in the company, valued at $22,710,557.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark D. Chandler sold 65,000 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.43, for a total transaction of $2,107,950.00. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock valued at $15,347,574 in the last 90 days. Insiders own 0.05% of the company’s stock.

A number of equities research analysts have recently commented on CSCO shares. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $33.39 price target for the company in a report on Monday, July 17th. Stifel Nicolaus set a $34.00 target price on shares of Cisco Systems and gave the company a “hold” rating in a report on Tuesday, August 15th. BMO Capital Markets restated a “hold” rating and issued a $32.00 target price on shares of Cisco Systems in a report on Thursday, September 28th. JMP Securities restated a “market perform” rating on shares of Cisco Systems in a report on Friday, August 18th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $35.26.

Cisco Systems Company Profile

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).

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

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