Bard Financial Services Inc. Sells 53,995 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bard Financial Services Inc. lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 26.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,605 shares of the network equipment provider’s stock after selling 53,995 shares during the period. Cisco Systems makes up 1.0% of Bard Financial Services Inc.’s portfolio, making the stock its 28th biggest position. Bard Financial Services Inc.’s holdings in Cisco Systems were worth $8,122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after purchasing an additional 288,775 shares during the period. Morse Asset Management Inc acquired a new stake in shares of Cisco Systems during the third quarter worth about $798,000. Citizens Financial Group Inc. RI raised its position in shares of Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after purchasing an additional 51,924 shares during the period. HighVista Strategies LLC acquired a new stake in shares of Cisco Systems during the third quarter worth about $1,698,000. Finally, Commerzbank Aktiengesellschaft FI raised its position in shares of Cisco Systems by 10.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after purchasing an additional 162,544 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $58.72 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.23. The stock has a 50 day moving average of $56.65 and a 200-day moving average of $51.05. The company has a market capitalization of $233.87 billion, a P/E ratio of 25.20, a P/E/G ratio of 4.39 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.72%. Cisco Systems’s payout ratio is 68.67%.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now owns 65,915 shares of the company’s stock, valued at $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 351,860 shares of company stock worth $20,231,558. Company insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of a number of research analyst reports. Citigroup raised their price target on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Barclays lifted their target price on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Jefferies Financial Group dropped their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.94.

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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.