Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Delta Capital Management LLC

Delta Capital Management LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,375 shares of the network equipment provider’s stock after selling 6,390 shares during the quarter. Cisco Systems comprises 2.8% of Delta Capital Management LLC’s investment portfolio, making the stock its 10th largest holding. Delta Capital Management LLC’s holdings in Cisco Systems were worth $4,120,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Evolution Wealth Advisors LLC acquired a new position in Cisco Systems during the second quarter worth $33,000. Lowe Wealth Advisors LLC acquired a new position in Cisco Systems during the second quarter worth $38,000. Personal Wealth Partners acquired a new position in Cisco Systems during the second quarter worth $44,000. Ashburton Jersey Ltd acquired a new position in Cisco Systems during the second quarter worth $49,000. Finally, Lucia Wealth Services LLC raised its stake 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 worth $63,000 after acquiring an additional 480 shares in the last quarter. Institutional investors own 73.31% of the company’s stock.

Cisco Systems stock traded up $1.03 during mid-day trading on Friday, hitting $47.18. The stock had a trading volume of 11,777,965 shares, compared to its average volume of 19,983,844. The stock has a 50-day simple moving average of $48.15 and a two-hundred day simple moving average of $53.22. The stock has a market capitalization of $196.94 billion, a PE ratio of 16.55, a P/E/G ratio of 2.24 and a beta of 1.28. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. The business had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.70 earnings per share. Sell-side analysts expect that Cisco Systems, Inc. will post 3.05 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.97%. The ex-dividend date is Thursday, October 3rd. Cisco Systems’s dividend payout ratio is 49.12%.

CSCO has been the subject of several recent analyst reports. Morgan Stanley dropped their price objective on Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. KeyCorp decreased their target price on Cisco Systems from $60.00 to $56.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. UBS Group set a $58.00 target price on Cisco Systems and gave the stock a “buy” rating in a report on Thursday, August 15th. ValuEngine cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Robert W. Baird set a $54.00 target price on Cisco Systems and gave the stock a “buy” rating in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $56.04.

In other Cisco Systems news, EVP Mark D. Chandler sold 10,733 shares of Cisco Systems stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $50.05, for a total transaction of $537,186.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 18,955 shares of Cisco Systems stock in a transaction that occurred on Friday, September 13th. The shares were 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. Insiders sold 193,130 shares of company stock worth $9,359,179 in the last three months. Insiders own 0.03% of the company’s stock.

Cisco Systems Profile

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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