Alan B Lancz & Associates Inc. Sells 2,900 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Alan B Lancz & Associates Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,359 shares of the network equipment provider’s stock after selling 2,900 shares during the quarter. Cisco Systems comprises 1.1% of Alan B Lancz & Associates Inc.’s portfolio, making the stock its 19th biggest holding. Alan B Lancz & Associates Inc.’s holdings in Cisco Systems were worth $1,241,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in Cisco Systems during the second quarter valued at approximately $25,000. West Financial Advisors LLC raised its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Quarry LP lifted its stake in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Cisco Systems in the 2nd quarter worth $36,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after buying an additional 766 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $58.06 on Friday. The stock has a market cap of $231.70 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 4.79 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a 50 day moving average price of $53.30 and a 200-day moving average price of $49.40. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $58.30.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period last year, the company earned $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. Equities analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.76%. Cisco Systems’s payout ratio is 62.99%.

Analysts Set New Price Targets

CSCO has been the topic of several research analyst reports. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Tigress Financial boosted their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, Jefferies Financial Group dropped their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.74.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now 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 filing with the SEC, which can be accessed through this link. In other news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were 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 directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 over the last 90 days. Insiders own 0.01% of the company’s stock.

About Cisco Systems

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.