Verity & Verity LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 247,755 shares of the network equipment provider’s stock after selling 201 shares during the period. Cisco Systems comprises about 2.9% of Verity & Verity LLC’s investment portfolio, making the stock its 2nd biggest position. Verity & Verity LLC’s holdings in Cisco Systems were worth $13,560,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSCO. Baystate Wealth Management LLC lifted its position in shares of Cisco Systems by 2.0% in the second quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock valued at $600,000 after acquiring an additional 202 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Cisco Systems by 6.1% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,609 shares of the network equipment provider’s stock worth $156,000 after buying an additional 207 shares in the last quarter. Bigelow Investment Advisors LLC lifted its position in shares of Cisco Systems by 0.5% in the fourth quarter. Bigelow Investment Advisors LLC now owns 44,515 shares of the network equipment provider’s stock worth $1,929,000 after buying an additional 235 shares in the last quarter. Winfield Associates Inc. lifted its position in shares of Cisco Systems by 3.0% in the second quarter. Winfield Associates Inc. now owns 8,250 shares of the network equipment provider’s stock worth $452,000 after buying an additional 239 shares in the last quarter. Finally, M&R Capital Management Inc. lifted its position in shares of Cisco Systems by 1.7% in the fourth quarter. M&R Capital Management Inc. now owns 14,639 shares of the network equipment provider’s stock worth $634,000 after buying an additional 242 shares in the last quarter. Institutional investors own 74.38% of the company’s stock.

A number of research firms recently commented on CSCO. Robert W. Baird boosted their target price on Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. UBS Group set a $13.00 target price on Freeport-McMoRan and gave the stock a “hold” rating in a research report on Wednesday, June 26th. Tigress Financial reiterated a “buy” rating on shares of Cisco Systems in a research report on Thursday, June 27th. JPMorgan Chase & Co. began coverage on SEA in a research report on Wednesday, June 12th. They issued an “overweight” rating and a $36.00 target price on the stock. Finally, Morgan Stanley set a $100.00 target price on Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, May 16th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $56.30.

In other news, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the transaction, the chief financial officer now owns 349,122 shares of the company’s stock, valued at $18,698,974.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark D. Chandler sold 1,379 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $55.94, for a total value of $77,141.26. The disclosure for this sale can be found here. Insiders have sold 95,129 shares of company stock worth $5,159,754 over the last three months. 0.03% of the stock is currently owned by insiders.

NASDAQ CSCO traded down $0.09 during trading hours on Friday, hitting $56.53. 15,241,319 shares of the company were exchanged, compared to its average volume of 18,735,730. The stock has a 50-day moving average price of $56.51. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52 week low of $40.25 and a 52 week high of $58.26. The stock has a market capitalization of $241.99 billion, a PE ratio of 24.16, a PEG ratio of 2.89 and a beta of 1.17.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The company had revenue of $12.96 billion for the quarter, compared to analysts’ expectations of $12.89 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts expect that Cisco Systems, Inc. will post 2.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.40 annualized dividend and a yield of 2.48%. Cisco Systems’s payout ratio is currently 59.83%.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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