Arrow Financial Corp reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,930 shares of the network equipment provider’s stock after selling 2,350 shares during the quarter. Arrow Financial Corp’s holdings in Cisco Systems were worth $401,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Barnett & Company Inc. lifted its holdings in shares of Cisco Systems by 1,511.5% during the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after acquiring an additional 3,023 shares during the period. Tortoise Investment Management LLC lifted its holdings in shares of Cisco Systems by 36.1% during the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after acquiring an additional 878 shares during the period. Mountain Capital Investment Advisors Inc bought a new position in shares of Cisco Systems during the second quarter valued at $104,000. Grove Bank & Trust lifted its holdings in shares of Cisco Systems by 141.3% during the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 2,120 shares during the period. Finally, Manchester Capital Management LLC lifted its holdings in shares of Cisco Systems by 10.7% during the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 350 shares during the period. 75.55% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems, Inc. (NASDAQ CSCO) opened at $38.74 on Thursday. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a twelve month low of $29.80 and a twelve month high of $38.89. The stock has a market capitalization of $191,520.00, a PE ratio of 17.73, a P/E/G ratio of 3.48 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last released 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 return on equity of 16.64% and a net margin of 20.26%. The business had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the business posted $0.61 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. research analysts predict that Cisco Systems, Inc. will post 2.21 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be given a $0.29 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a yield of 2.99%. Cisco Systems’s payout ratio is 60.10%.

A number of research analysts have issued reports on CSCO shares. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price objective for the company. in a report on Wednesday, August 30th. Credit Suisse Group reissued an “outperform” rating on shares of Cisco Systems in a report on Thursday, August 31st. Oppenheimer reissued a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a report on Friday, October 20th. Robert W. Baird reissued a “buy” rating and set a $38.00 price objective on shares of Cisco Systems in a report on Monday, September 11th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $42.00 price objective on shares of Cisco Systems in a report on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $37.10.

In related news, CAO Prat Bhatt sold 2,606 shares of Cisco Systems stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value 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 $3,254,324.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roderick C. Mcgeary sold 15,230 shares of Cisco Systems stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.00, for a total value of $578,740.00. Following the completion of the sale, the director now owns 113,154 shares of the company’s stock, valued at $4,299,852. The disclosure for this sale can be found here. Over the last quarter, insiders sold 273,622 shares of company stock valued at $10,009,964. Corporate insiders own 0.05% of the company’s stock.

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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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