Cisco Systems, Inc. (CSCO) Shares Sold by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 20.4% during the first quarter, HoldingsChannel.com reports. The firm owned 5,450 shares of the network equipment provider’s stock after selling 1,398 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Cisco Systems were worth $234,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CSCO. Winfield Associates Inc. boosted its stake in Cisco Systems by 121.0% during the first quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock valued at $200,000 after buying an additional 2,557 shares in the last quarter. Covington Investment Advisors Inc. bought a new position in Cisco Systems during the first quarter valued at about $5,331,000. KBC Group NV boosted its stake in Cisco Systems by 29.6% during the first quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock valued at $89,873,000 after buying an additional 478,673 shares in the last quarter. Boston Family Office LLC boosted its stake in Cisco Systems by 2.1% during the first quarter. Boston Family Office LLC now owns 96,427 shares of the network equipment provider’s stock valued at $4,136,000 after buying an additional 2,000 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its stake in Cisco Systems by 83.3% during the first quarter. Federated Investors Inc. PA now owns 1,763,002 shares of the network equipment provider’s stock valued at $75,615,000 after buying an additional 801,311 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors.

In other Cisco Systems news, EVP David Goeckeler sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of $43.27, for a total transaction of $1,514,450.00. Following the completion of the sale, the executive vice president now directly owns 490,458 shares in the company, valued at approximately $21,222,117.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.05% of the company’s stock.

Several research analysts recently weighed in on the company. BidaskClub raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Morgan Stanley decreased their target price on Cisco Systems from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, July 19th. Piper Jaffray Companies set a $50.00 target price on Cisco Systems and gave the company a “buy” rating in a research note on Monday, July 9th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Monday, June 11th. Ten equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $46.42.

NASDAQ:CSCO opened at $43.75 on Tuesday. Cisco Systems, Inc. has a 1-year low of $30.36 and a 1-year high of $46.37. The firm has a market capitalization of $210.91 billion, a P/E ratio of 20.35, a P/E/G ratio of 2.64 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.34 and a quick ratio of 2.28.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 16th. The network equipment provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. The firm had revenue of $12.46 billion during the quarter, compared to analyst estimates of $12.42 billion. During the same period last year, the company posted $0.60 EPS. research analysts expect that Cisco Systems, Inc. will post 2.34 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 25th. Shareholders of record on Friday, July 6th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, July 5th. This represents a $1.32 dividend on an annualized basis and a yield of 3.02%. Cisco Systems’s payout ratio is presently 61.40%.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

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

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