Roanoke Asset Management Corp NY lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 74,762 shares of the network equipment provider’s stock after selling 655 shares during the period. Roanoke Asset Management Corp NY’s holdings in Cisco Systems were worth $2,340,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. First Hawaiian Bank acquired a new stake in Cisco Systems during the first quarter valued at $215,000. Syntal Capital Partners LLC acquired a new stake in Cisco Systems during the first quarter valued at $257,000. Dodge & Cox acquired a new stake in Cisco Systems during the fourth quarter valued at $1,950,935,000. Hefty Wealth Partners boosted its stake in Cisco Systems by 15,679.3% in the first quarter. Hefty Wealth Partners now owns 68,482 shares of the network equipment provider’s stock valued at $2,314,000 after buying an additional 68,048 shares in the last quarter. Finally, Atlas Brown Inc. boosted its stake in Cisco Systems by 4.6% in the second quarter. Atlas Brown Inc. now owns 9,777 shares of the network equipment provider’s stock valued at $306,000 after buying an additional 430 shares in the last quarter. Institutional investors own 75.28% of the company’s stock.

Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded down 1.10% during trading on Friday, reaching $30.70. The company’s stock had a trading volume of 19,103,940 shares. The company’s 50 day moving average price is $31.51 and its 200 day moving average price is $32.56. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. The firm has a market cap of $153.29 billion, a PE ratio of 16.16 and a beta of 1.24. Cisco Systems also saw some unusual options trading on Tuesday. Stock investors acquired 24,568 put options on the stock. This is an increase of approximately 223% compared to the average daily volume of 7,606 put options.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting the consensus estimate of $0.61. The company had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a return on equity of 17.04% and a net margin of 20.02%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post $2.45 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were paid a $0.29 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $1.16 annualized dividend and a dividend yield of 3.74%. Cisco Systems’s payout ratio is 60.73%.

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CSCO has been the subject of several research reports. Jefferies Group LLC reissued a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a research report on Friday, May 26th. William Blair reissued an “outperform” rating on shares of Cisco Systems in a research report on Monday, July 3rd. Robert W. Baird reissued a “buy” rating on shares of Cisco Systems in a research report on Monday, May 1st. Royal Bank Of Canada reissued an “outperform” rating and issued a $36.00 price objective (down from $37.00) on shares of Cisco Systems in a research report on Friday, May 12th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a research report on Tuesday, May 16th. Fourteen analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Cisco Systems presently has an average rating of “Buy” and an average price target of $35.38.

In other news, insider John T. Chambers sold 295,537 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total value of $9,315,326.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Karen Walker sold 7,802 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total value of $244,124.58. Following the completion of the sale, the senior vice president now directly owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The disclosure for this sale can be found here. In the last three months, insiders sold 396,179 shares of company stock valued at $12,503,407. Insiders own 0.11% of the company’s stock.

About Cisco Systems

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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