Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Syntax Research Inc.

Syntax Research Inc. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% in the third quarter, HoldingsChannel.com reports. The firm owned 11,946 shares of the network equipment provider’s stock after selling 392 shares during the quarter. Syntax Research Inc.’s holdings in Cisco Systems were worth $636,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Summit Securities Group LLC acquired a new stake in Cisco Systems during the second quarter worth approximately $25,000. West Financial Advisors LLC raised its stake in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Quarry LP lifted its position in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems in the third quarter valued at $40,000. Finally, New Millennium Group LLC purchased a new position in shares of Cisco Systems during the second quarter worth about $44,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of research analyst reports. Evercore ISI upped their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Citigroup lifted their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Bank of America increased their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.28.

Insiders Place Their Bets

In related news, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

Cisco Systems stock opened at $58.52 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The company has a market cap of $233.07 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 4.37 and a beta of 0.85. The business has a fifty day moving average of $57.36 and a two-hundred day moving average of $51.57.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. As a group, analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.73%. Cisco Systems’s dividend payout ratio is presently 68.67%.

Cisco Systems Company Profile

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.