Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Bard Financial Services Inc.

Bard Financial Services Inc. lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,435 shares of the network equipment provider’s stock after selling 170 shares during the period. Cisco Systems accounts for approximately 1.1% of Bard Financial Services Inc.’s portfolio, making the stock its 25th biggest holding. Bard Financial Services Inc.’s holdings in Cisco Systems were worth $9,024,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after buying an additional 288,775 shares during the period. Morse Asset Management Inc purchased a new stake in Cisco Systems in the third quarter valued at approximately $798,000. Citizens Financial Group Inc. RI raised its stake in Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after purchasing an additional 51,924 shares during the period. HighVista Strategies LLC purchased a new stake in shares of Cisco Systems during the 3rd quarter valued at $1,698,000. Finally, GAMMA Investing LLC increased its holdings in shares of Cisco Systems by 13.1% during the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after buying an additional 10,813 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 58,188 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the sale, the executive vice president now directly owns 219,100 shares in the company, valued at approximately $12,596,059. This trade represents a 20.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 in the last quarter. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.16 during mid-day trading on Monday, hitting $59.02. The stock had a trading volume of 7,867,098 shares, compared to its average volume of 14,192,501. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.23. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $235.06 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 4.37 and a beta of 0.84. The company has a 50 day simple moving average of $58.31 and a 200-day simple moving average of $52.76.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same period in the prior year, the company posted $0.98 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid 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 2.71%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays upped their price target on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Citigroup lifted their price target on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Wells Fargo & Company upped their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Tigress Financial lifted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $60.95.

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.