Park Place Capital Corp Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Park Place Capital Corp cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 41.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,973 shares of the network equipment provider’s stock after selling 6,345 shares during the quarter. Park Place Capital Corp’s holdings in Cisco Systems were worth $426,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisory Alpha LLC grew its position in shares of Cisco Systems by 22.7% in the fourth quarter. Advisory Alpha LLC now owns 9,304 shares of the network equipment provider’s stock valued at $470,000 after purchasing an additional 1,722 shares during the last quarter. Traveka Wealth LLC purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $234,000. Nilsine Partners LLC raised its position in shares of Cisco Systems by 43.5% in the 4th quarter. Nilsine Partners LLC now owns 40,390 shares of the network equipment provider’s stock worth $2,041,000 after buying an additional 12,241 shares during the period. Financial Security Advisor Inc. increased its position in Cisco Systems by 5.5% during the 4th quarter. Financial Security Advisor Inc. now owns 84,307 shares of the network equipment provider’s stock worth $4,259,000 after purchasing an additional 4,366 shares in the last quarter. Finally, Highlander Capital Management LLC lifted its holdings in shares of Cisco Systems by 0.6% during the 4th quarter. Highlander Capital Management LLC now owns 62,124 shares of the network equipment provider’s stock valued at $3,139,000 after acquiring an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 3.7 %

CSCO stock traded down $1.72 during midday trading on Monday, reaching $44.94. The company had a trading volume of 12,074,438 shares, compared to its average volume of 19,519,520. The company has a 50 day moving average of $46.81 and a two-hundred day moving average of $48.26. The company has a market capitalization of $181.05 billion, a P/E ratio of 15.71, a PEG ratio of 2.97 and a beta of 0.85. Cisco Systems, Inc. has a 1 year low of $44.80 and a 1 year high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period last year, the company earned $0.88 earnings per share. Cisco Systems’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.56%. Cisco Systems’s payout ratio is presently 53.87%.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of recent analyst reports. Citigroup began coverage on shares of Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective on the stock. Barclays raised their price target on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 17th. Oppenheimer boosted their price objective on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company in a research report on Monday, May 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.47.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the transaction, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,106 shares of company stock worth $1,908,923. Insiders own 0.02% 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 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.