Whitener Capital Management Inc. Has $412,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Whitener Capital Management Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,534 shares of the network equipment provider’s stock after selling 1,116 shares during the quarter. Whitener Capital Management Inc.’s holdings in Cisco Systems were worth $412,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CSCO. Great Valley Advisor Group Inc. increased its position in Cisco Systems by 87.1% in the second quarter. Great Valley Advisor Group Inc. now owns 53,601 shares of the network equipment provider’s stock worth $2,935,000 after purchasing an additional 24,948 shares during the period. Stevens Capital Management LP increased its position in Cisco Systems by 39.1% in the second quarter. Stevens Capital Management LP now owns 555,338 shares of the network equipment provider’s stock worth $30,394,000 after purchasing an additional 156,143 shares during the period. UMB Bank N A MO boosted its holdings in Cisco Systems by 104.5% during the second quarter. UMB Bank N A MO now owns 362,875 shares of the network equipment provider’s stock worth $19,860,000 after buying an additional 185,451 shares during the last quarter. Geneva Partners LLC boosted its holdings in Cisco Systems by 26.3% during the second quarter. Geneva Partners LLC now owns 21,039 shares of the network equipment provider’s stock worth $1,151,000 after buying an additional 4,386 shares during the last quarter. Finally, Atlas Brown Inc. boosted its holdings in Cisco Systems by 6.8% during the second quarter. Atlas Brown Inc. now owns 16,157 shares of the network equipment provider’s stock worth $884,000 after buying an additional 1,025 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

CSCO has been the topic of a number of recent analyst reports. Bank of America restated a “buy” rating and set a $62.00 target price on shares of Cisco Systems in a report on Wednesday, July 10th. Credit Suisse Group reduced their target price on Cisco Systems from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Cowen reduced their target price on Cisco Systems from $65.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. Piper Jaffray Companies raised their target price on Cisco Systems from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Finally, Citigroup reduced their target price on Cisco Systems from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $56.59.

Shares of NASDAQ:CSCO traded down $0.57 during trading on Thursday, hitting $48.20. 10,881,771 shares of the company’s stock traded hands, compared to its average volume of 22,387,942. Cisco Systems, Inc. has a 52 week low of $40.25 and a 52 week high of $58.26. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The company has a market cap of $207.62 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 2.26 and a beta of 1.18. The company has a 50-day moving average price of $54.50 and a 200-day moving average price of $53.76.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The business had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. During the same quarter in the previous year, the business posted $0.70 EPS. Cisco Systems’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts predict that Cisco Systems, Inc. will post 3.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cisco Systems’s payout ratio is 49.12%.

In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $53.56, for a total value of $3,749,200.00. Following the sale, the chief financial officer now owns 349,122 shares in the company, valued at approximately $18,698,974.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Chandler sold 546 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $47.92, for a total value of $26,164.32. The disclosure for this sale can be found here. Insiders sold a total of 91,925 shares of company stock worth $4,976,706 in the last 90 days. Company insiders own 0.03% of the company’s stock.

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

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