Usca Ria LLC Cuts Holdings in Cisco Systems, Inc. (CSCO)

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Usca Ria LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 40.5% in the 2nd quarter, Holdings Channel reports. The firm owned 196,120 shares of the network equipment provider’s stock after selling 133,737 shares during the period. Cisco Systems makes up approximately 0.9% of Usca Ria LLC’s holdings, making the stock its 21st largest holding. Usca Ria LLC’s holdings in Cisco Systems were worth $8,439,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Summit Trail Advisors LLC lifted its holdings in shares of Cisco Systems by 4,313.3% during the first quarter. Summit Trail Advisors LLC now owns 4,814,373 shares of the network equipment provider’s stock worth $4,814,000 after buying an additional 4,705,284 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Cisco Systems by 1.1% during the first quarter. BlackRock Inc. now owns 339,004,547 shares of the network equipment provider’s stock worth $14,539,904,000 after buying an additional 3,630,488 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Cisco Systems by 61.0% during the first quarter. OppenheimerFunds Inc. now owns 9,183,708 shares of the network equipment provider’s stock worth $393,888,000 after buying an additional 3,479,165 shares in the last quarter. Alps Advisors Inc. acquired a new stake in shares of Cisco Systems during the second quarter worth $78,609,000. Finally, KBC Group NV lifted its holdings in shares of Cisco Systems by 81.4% during the second quarter. KBC Group NV now owns 3,801,073 shares of the network equipment provider’s stock worth $163,560,000 after buying an additional 1,705,640 shares in the last quarter. 71.52% of the stock is owned by institutional investors and hedge funds.

In other Cisco Systems news, Chairman Charles Robbins sold 217,420 shares of Cisco Systems stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $47.28, for a total value of $10,279,617.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Goeckeler sold 63,050 shares of Cisco Systems stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $47.57, for a total value of $2,999,288.50. Following the completion of the transaction, the executive vice president now owns 547,019 shares in the company, valued at approximately $26,021,693.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 450,620 shares of company stock worth $21,322,282. Company insiders own 0.03% of the company’s stock.

CSCO stock opened at $46.14 on Tuesday. The stock has a market capitalization of $219.10 billion, a P/E ratio of 19.11, a P/E/G ratio of 2.69 and a beta of 1.11. Cisco Systems, Inc. has a 52 week low of $33.67 and a 52 week high of $49.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 2.22.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. The business had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.76 billion. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. Cisco Systems’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.67 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Thursday, October 4th. Cisco Systems’s dividend payout ratio is presently 56.41%.

CSCO has been the subject of a number of research reports. Zacks Investment Research downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. UBS Group set a $56.00 target price on Cisco Systems and gave the stock a “buy” rating in a report on Wednesday, September 26th. BidaskClub raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 25th. Cowen lifted their target price on Cisco Systems from $51.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, August 16th. Finally, JPMorgan Chase & Co. set a $59.00 target price on Cisco Systems and gave the stock a “buy” rating in a report on Thursday, August 16th. Eight analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $48.76.

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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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