Apollon Financial LLC Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Apollon Financial LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,179 shares of the network equipment provider’s stock after selling 206 shares during the quarter. Apollon Financial LLC’s holdings in Cisco Systems were worth $222,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CSCO. Summit Securities Group LLC purchased a new position in Cisco Systems in the 2nd quarter valued at approximately $25,000. Quarry LP lifted its holdings in shares of 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 purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC grew its position in shares of Cisco Systems by 116.6% in the third 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 last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC lifted its stake 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 valued at $42,000 after buying an additional 766 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CSCO. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.32.

Insider Buying and Selling

In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares in the company, valued at $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 1.0 %

Cisco Systems stock opened at $58.63 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38. The company has a 50-day simple moving average of $53.46 and a 200-day simple moving average of $49.49. The firm has a market capitalization of $233.98 billion, a P/E ratio of 23.08, a P/E/G ratio of 4.81 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 62.99%.

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.