Covington Capital Management decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 261,816 shares of the network equipment provider’s stock after selling 203 shares during the quarter. Covington Capital Management’s holdings in Cisco Systems were worth $8,195,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CSCO. Southeast Asset Advisors Inc. boosted its stake in shares of Cisco Systems by 0.5% during the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock worth $312,000 after buying an additional 44 shares during the period. Opes Advisors Inc boosted its stake in shares of Cisco Systems by 0.6% during the second quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock worth $236,000 after buying an additional 44 shares during the period. Leisure Capital Management boosted its stake in shares of Cisco Systems by 0.6% during the second quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock worth $233,000 after buying an additional 48 shares during the period. Ronald Blue & Co. LLC boosted its stake in shares of Cisco Systems by 0.3% during the second quarter. Ronald Blue & Co. LLC now owns 17,912 shares of the network equipment provider’s stock worth $561,000 after buying an additional 57 shares during the period. Finally, Banced Corp boosted its stake in shares of Cisco Systems by 0.4% during the second quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock worth $442,000 after buying an additional 59 shares during the period. 75.78% of the stock is currently owned by institutional investors.

In other news, CAO Prat Bhatt sold 2,606 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $95,092.94. Following the completion of the sale, the chief accounting officer now directly owns 89,184 shares in the company, valued at approximately $3,254,324.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Mark D. Chandler sold 65,000 shares of Cisco Systems stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $32.43, for a total transaction of $2,107,950.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 323,392 shares of company stock valued at $11,539,174. Insiders own 0.05% of the company’s stock.

Shares of Cisco Systems, Inc. (CSCO) opened at $37.91 on Wednesday. Cisco Systems, Inc. has a 12-month low of $29.80 and a 12-month high of $38.10. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. The stock has a market cap of $185,929.63, a P/E ratio of 17.33, a PEG ratio of 3.40 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The company had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the firm earned $0.61 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. sell-side analysts anticipate that Cisco Systems, Inc. will post 2.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.06%. Cisco Systems’s payout ratio is 60.10%.

Several brokerages have recently weighed in on CSCO. Vetr downgraded shares of Cisco Systems from a “hold” rating to a “sell” rating and set a $35.93 target price for the company. in a research note on Wednesday, November 29th. Sanford C. Bernstein reiterated a “buy” rating and set a $40.00 target price on shares of Cisco Systems in a research note on Monday, November 27th. Robert W. Baird reiterated a “buy” rating and set a $41.00 target price on shares of Cisco Systems in a research note on Tuesday, December 5th. UBS reiterated a “buy” rating and set a $39.00 target price on shares of Cisco Systems in a research note on Thursday, November 16th. Finally, MKM Partners increased their target price on shares of Cisco Systems to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $36.90.

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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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