Keystone Financial Planning Inc. Sells 474 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Cerbat Gem

Keystone Financial Planning Inc. trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,494 shares of the network equipment provider’s stock after selling 474 shares during the period. Cisco Systems comprises 0.8% of Keystone Financial Planning Inc.’s portfolio, making the stock its 23rd largest position. Keystone Financial Planning Inc.’s holdings in Cisco Systems were worth $2,740,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CSCO. Bank of New York Mellon Corp boosted its stake in shares of Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after purchasing an additional 1,853,598 shares in the last quarter. Legal & General Group Plc boosted its position in Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares during the period. Swedbank AB bought a new position in shares of Cisco Systems in the 1st quarter worth approximately $840,538,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Cisco Systems by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after purchasing an additional 2,906,357 shares during the period. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

CSCO stock opened at $55.50 on Friday. The business has a 50 day moving average price of $52.63 and a 200 day moving average price of $49.09. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $221.49 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.61 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the firm earned $1.01 EPS. The company’s revenue was down 10.3% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 62.99%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of research reports. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Tigress Financial increased their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Barclays dropped their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, August 15th. Finally, HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.74.

View Our Latest Stock Report on Cisco Systems

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the 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 of the company’s stock, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 over the last quarter. Company insiders own 0.01% of the company’s stock.

About Cisco Systems

(Free Report)

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.

Read More