Cisco Systems, Inc. (CSCO) Holdings Lessened by Greylin Investment Mangement Inc.

Greylin Investment Mangement Inc. trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 40.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,275 shares of the network equipment provider’s stock after selling 45,785 shares during the period. Cisco Systems comprises approximately 0.5% of Greylin Investment Mangement Inc.’s holdings, making the stock its 28th largest holding. Greylin Investment Mangement Inc.’s holdings in Cisco Systems were worth $2,074,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CSCO. Southeast Asset Advisors Inc. raised its position in shares of Cisco Systems by 0.5% during the 1st quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock valued at $312,000 after acquiring an additional 44 shares in the last quarter. Banced Corp raised its position in shares of Cisco Systems by 0.4% during the 2nd quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock valued at $442,000 after acquiring an additional 59 shares in the last quarter. Delta Asset Management LLC TN raised its position in shares of Cisco Systems by 0.4% during the 2nd quarter. Delta Asset Management LLC TN now owns 17,489 shares of the network equipment provider’s stock valued at $547,000 after acquiring an additional 72 shares in the last quarter. Farmers National Bank raised its position in shares of Cisco Systems by 1.3% during the 1st quarter. Farmers National Bank now owns 6,344 shares of the network equipment provider’s stock valued at $201,000 after acquiring an additional 83 shares in the last quarter. Finally, Asset Dedication LLC raised its position in shares of Cisco Systems by 0.3% during the 2nd quarter. Asset Dedication LLC now owns 29,991 shares of the network equipment provider’s stock valued at $924,000 after acquiring an additional 91 shares in the last quarter. 74.70% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on the company. Citigroup Inc. set a $36.00 price target on Cisco Systems and gave the company a “buy” rating in a research report on Friday, May 19th. Berenberg Bank set a $33.00 price target on Cisco Systems and gave the company a “hold” rating in a research report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 price target on Cisco Systems and gave the company a “buy” rating in a research report on Saturday, July 1st. Stifel Nicolaus set a $34.00 price target on Cisco Systems and gave the company a “hold” rating in a research report on Tuesday, August 15th. Finally, JMP Securities reissued a “market perform” rating on shares of Cisco Systems in a research report on Friday, August 18th. Fourteen analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.57.

In other Cisco Systems news, CAO Prat Bhatt sold 25,638 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the transaction, the chief accounting officer now directly owns 119,996 shares of the company’s stock, valued at $3,847,071.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 121,390 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $3,891,763.40. Following the completion of the transaction, the chief executive officer now directly owns 552,694 shares of the company’s stock, valued at $17,719,369.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 420,138 shares of company stock valued at $13,239,624. Insiders own 0.11% of the company’s stock.

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Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded up 0.711% during midday trading on Friday, reaching $32.419. The company had a trading volume of 15,358,710 shares. The company’s 50-day moving average is $31.63 and its 200-day moving average is $32.48. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $34.60. The firm has a market cap of $160.54 billion, a P/E ratio of 17.063 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. Equities research analysts expect that Cisco Systems, Inc. will post $2.43 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th will be paid a $0.29 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.60%. Cisco Systems’s payout ratio is 60.73%.

Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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

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