United Asset Strategies Inc. Has $1,744,000 Position in Cisco Systems, Inc. (CSCO)

United Asset Strategies Inc. Has $1,744,000 Position in Cisco Systems, Inc. (CSCO)

United Asset Strategies Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.6% during the third quarter, Holdings Channel reports. The fund owned 55,782 shares of the network equipment provider’s stock after selling 2,088 shares during the period. United Asset Strategies Inc.’s holdings in Cisco Systems were worth $1,744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Common Asset Management LLC increased its position in shares of Cisco Systems by 5.9% in the third quarter. Boston Common Asset Management LLC now owns 19,482 shares of the network equipment provider’s stock worth $618,000 after buying an additional 1,080 shares during the last quarter. Parsons Capital Management Inc. RI increased its position in shares of Cisco Systems by 19.8% in the third quarter. Parsons Capital Management Inc. RI now owns 109,314 shares of the network equipment provider’s stock worth $3,467,000 after buying an additional 18,036 shares during the last quarter. Boston Financial Mangement LLC increased its position in shares of Cisco Systems by 2.3% in the third quarter. Boston Financial Mangement LLC now owns 75,083 shares of the network equipment provider’s stock worth $2,382,000 after buying an additional 1,675 shares during the last quarter. Sei Investments Co. increased its position in shares of Cisco Systems by 12.3% in the third quarter. Sei Investments Co. now owns 2,117,734 shares of the network equipment provider’s stock worth $67,175,000 after buying an additional 232,464 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Cisco Systems by 5.1% in the third quarter. US Bancorp DE now owns 4,473,198 shares of the network equipment provider’s stock worth $141,889,000 after buying an additional 215,227 shares during the last quarter. 75.41% of the stock is owned by institutional investors.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at 30.98 on Friday. Cisco Systems, Inc. has a 12-month low of $22.46 and a 12-month high of $31.95. The stock has a 50 day moving average price of $30.37 and a 200 day moving average price of $30.66. The firm has a market capitalization of $155.51 billion, a PE ratio of 14.82 and a beta of 1.38.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.34 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company’s revenue was down 2.6% compared to the same quarter last year. Analysts predict that Cisco Systems, Inc. will post $2.37 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 25th. Investors of record on Friday, January 6th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Wednesday, January 4th. Cisco Systems’s dividend payout ratio (DPR) is 49.52%.

A number of brokerages have issued reports on CSCO. Wells Fargo & Company reissued an “overweight” rating on shares of Cisco Systems in a report on Saturday. BMO Capital Markets reissued an “outperform” rating and issued a $33.00 price target on shares of Cisco Systems in a report on Saturday. Drexel Hamilton reissued a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a report on Saturday. JMP Securities reissued a “market perform” rating on shares of Cisco Systems in a report on Friday. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $35.00 price target on shares of Cisco Systems in a report on Friday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $32.71.

In related news, SVP Karen Walker sold 1,793 shares of the business’s stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $30.41, for a total value of $54,525.13. Following the transaction, the senior vice president now owns 183,275 shares in the company, valued at $5,573,392.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

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).

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