Fishman Jay A Ltd. MI Purchases 5,450 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fishman Jay A Ltd. MI grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the third quarter, HoldingsChannel.com reports. The firm owned 249,342 shares of the network equipment provider’s stock after acquiring an additional 5,450 shares during the period. Cisco Systems accounts for approximately 2.3% of Fishman Jay A Ltd. MI’s investment portfolio, making the stock its 15th biggest holding. Fishman Jay A Ltd. MI’s holdings in Cisco Systems were worth $12,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Enlightenment Research LLC bought a new position in shares of Cisco Systems during the second quarter worth $5,600,000. Great Valley Advisor Group Inc. lifted its position in Cisco Systems by 87.1% during the second quarter. Great Valley Advisor Group Inc. now owns 53,601 shares of the network equipment provider’s stock valued at $2,935,000 after purchasing an additional 24,948 shares during the last quarter. A.R.T. Advisors LLC bought a new position in Cisco Systems during the second quarter valued at $5,214,000. Nachman Norwood & Parrott Inc lifted its position in Cisco Systems by 8.3% during the third quarter. Nachman Norwood & Parrott Inc now owns 18,996 shares of the network equipment provider’s stock valued at $938,000 after purchasing an additional 1,460 shares during the last quarter. Finally, Stevens Capital Management LP lifted its position in Cisco Systems by 39.1% during the second quarter. Stevens Capital Management LP now owns 555,338 shares of the network equipment provider’s stock valued at $30,394,000 after purchasing an additional 156,143 shares during the last quarter. Institutional investors and hedge funds own 73.27% of the company’s stock.

In other Cisco Systems news, EVP Mark D. Chandler sold 10,733 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $50.05, for a total transaction of $537,186.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Goeckeler sold 70,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $49.22, for a total transaction of $3,445,400.00. Following the transaction, the executive vice president now directly owns 429,398 shares of the company’s stock, valued at $21,134,969.56. The disclosure for this sale can be found here. Insiders sold a total of 193,130 shares of company stock valued at $9,359,179 over the last quarter. 0.03% of the stock is owned by company insiders.

CSCO stock traded up $0.41 during trading on Friday, hitting $48.83. The company had a trading volume of 14,406,400 shares, compared to its average volume of 20,421,934. The company has a 50 day simple moving average of $47.56 and a 200-day simple moving average of $52.07. The firm has a market capitalization of $202.69 billion, a P/E ratio of 17.13, a PEG ratio of 2.30 and a beta of 1.28. The company has a quick ratio of 1.46, a current ratio of 1.51 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.

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Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. Cisco Systems’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.03 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Thursday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.

Several research firms have commented on CSCO. KeyCorp lowered their price objective on shares of Cisco Systems from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Royal Bank of Canada reduced their target price on shares of Cisco Systems from $64.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. UBS Group set a $58.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research note on Thursday, August 15th. MKM Partners reduced their target price on shares of Cisco Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. set a $62.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company’s stock. Cisco Systems presently has an average rating of “Buy” and an average target price of $55.92.

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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Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).

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

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