Wellington Shields & Co. LLC Has $1.14 Million Position in Cisco Systems, Inc. (CSCO)

Wellington Shields & Co. LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,474 shares of the network equipment provider’s stock after selling 3,025 shares during the quarter. Wellington Shields & Co. LLC’s holdings in Cisco Systems were worth $1,142,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Carroll Financial Associates Inc. grew its stake in shares of Cisco Systems by 0.9% in the second quarter. Carroll Financial Associates Inc. now owns 64,408 shares of the network equipment provider’s stock worth $2,015,000 after purchasing an additional 577 shares during the last quarter. Lodestar Investment Counsel LLC IL lifted its holdings in Cisco Systems by 309.5% in the second quarter. Lodestar Investment Counsel LLC IL now owns 170,553 shares of the network equipment provider’s stock valued at $5,338,000 after buying an additional 128,909 shares during the period. Russell Investments Group Ltd. lifted its holdings in Cisco Systems by 13.4% in the second quarter. Russell Investments Group Ltd. now owns 6,159,003 shares of the network equipment provider’s stock valued at $192,806,000 after buying an additional 727,343 shares during the period. First Midwest Bank Trust Division lifted its holdings in Cisco Systems by 1.8% in the second quarter. First Midwest Bank Trust Division now owns 135,348 shares of the network equipment provider’s stock valued at $4,236,000 after buying an additional 2,439 shares during the period. Finally, Deltec Asset Management LLC lifted its holdings in Cisco Systems by 24.6% in the second quarter. Deltec Asset Management LLC now owns 107,446 shares of the network equipment provider’s stock valued at $3,363,000 after buying an additional 21,200 shares during the period. 75.37% of the stock is currently owned by institutional investors.

Several equities analysts recently issued reports on CSCO shares. Drexel Hamilton restated a “buy” rating and issued a $39.00 target price on shares of Cisco Systems in a report on Sunday, June 25th. Deutsche Bank AG restated a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a report on Tuesday, June 13th. Morgan Stanley set a $39.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a report on Monday, May 29th. Jefferies Group LLC restated a “buy” rating and issued a $37.00 target price on shares of Cisco Systems in a report on Friday, May 26th. Finally, BidaskClub upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Fourteen research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $35.57.

In other Cisco Systems news, CAO Prat Bhatt sold 25,638 shares of Cisco Systems stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the sale, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 121,390 shares of Cisco Systems stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the sale, the chief executive officer now directly owns 552,694 shares in the company, valued at approximately $17,719,369.64. The disclosure for this sale can be found here. Insiders sold a total of 420,138 shares of company stock worth $13,239,624 in the last three months. 0.11% of the stock is owned by corporate insiders.

Shares of Cisco Systems, Inc. (CSCO) traded up 0.55% during mid-day trading on Wednesday, reaching $32.67. 7,612,041 shares of the company traded hands. The firm has a market capitalization of $161.78 billion, a price-to-earnings ratio of 17.19 and a beta of 1.19. The firm has a 50-day moving average price of $31.72 and a 200 day moving average price of $32.41. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60. Cisco Systems also was the target of unusually large options trading activity on Monday. Stock investors bought 16,510 put options on the company. This is an increase of approximately 117% compared to the typical daily volume of 7,614 put options.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts anticipate that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.57%. Cisco Systems’s dividend payout ratio is currently 60.73%.

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Cisco Systems 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).

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

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