Lake Street Financial LLC Sells 1,141 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Lake Street Financial LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,682 shares of the network equipment provider’s stock after selling 1,141 shares during the period. Lake Street Financial LLC’s holdings in Cisco Systems were worth $1,711,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. WealthPLAN Partners LLC raised its stake in shares of Cisco Systems by 13.5% during the 4th quarter. WealthPLAN Partners LLC now owns 12,279 shares of the network equipment provider’s stock worth $683,000 after purchasing an additional 1,464 shares during the period. Emerald Advisers LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth $44,000. RFG Advisory LLC raised its stake in shares of Cisco Systems by 9.0% during the 4th quarter. RFG Advisory LLC now owns 42,028 shares of the network equipment provider’s stock worth $2,663,000 after purchasing an additional 3,472 shares during the period. Blodgett Wealth Advisors LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth $1,684,000. Finally, Castle Rock Wealth Management LLC raised its stake in shares of Cisco Systems by 25.1% during the 4th quarter. Castle Rock Wealth Management LLC now owns 5,060 shares of the network equipment provider’s stock worth $287,000 after purchasing an additional 1,015 shares during the period. 73.18% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded down $0.55 during midday trading on Friday, hitting $44.83. 699,284 shares of the company’s stock were exchanged, compared to its average volume of 17,325,382. Cisco Systems, Inc. has a 12-month low of $40.82 and a 12-month high of $64.29. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The company has a market cap of $185.64 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.25 and a beta of 0.97. The business’s fifty day moving average price is $43.98 and its two-hundred day moving average price is $50.06.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. The company had revenue of $12.84 billion during the quarter, compared to analyst estimates of $13.33 billion. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, research analysts forecast that Cisco Systems, Inc. will post 3 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th were given a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, July 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.39%. Cisco Systems’s payout ratio is 53.33%.

Insider Buying and Selling

In related news, SVP Prat Bhatt sold 607 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $43.10, for a total value of $26,161.70. Following the completion of the sale, the senior vice president now owns 79,855 shares in the company, valued at approximately $3,441,750.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Cisco Systems news, COO Maria Martinez sold 3,628 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $43.34, for a total value of $157,237.52. Following the completion of the sale, the chief operating officer now owns 295,305 shares in the company, valued at $12,798,518.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prat Bhatt sold 607 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $43.10, for a total value of $26,161.70. Following the completion of the sale, the senior vice president now owns 79,855 shares of the company’s stock, valued at approximately $3,441,750.50. The disclosure for this sale can be found here. Insiders sold 25,326 shares of company stock worth $1,103,159 in the last quarter. 0.02% of the stock is owned by insiders.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent analyst reports. Oppenheimer lowered their target price on Cisco Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, May 19th. Citigroup lowered their price objective on Cisco Systems from $45.00 to $40.00 and set a “sell” rating on the stock in a research note on Thursday, May 19th. Cowen lowered their price objective on Cisco Systems to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, May 19th. Jefferies Financial Group lowered their price objective on Cisco Systems from $65.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Cisco Systems from $59.00 to $51.00 and set a “hold” rating on the stock in a research note on Thursday, May 19th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.23.

Cisco Systems Profile

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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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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

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