Manchester Capital Management LLC Has $612,000 Stake in Cisco Systems, Inc. (CSCO)

Manchester Capital Management LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 232.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,218 shares of the network equipment provider’s stock after purchasing an additional 9,940 shares during the quarter. Manchester Capital Management LLC’s holdings in Cisco Systems were worth $612,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. JJJ Advisors Inc. acquired a new position in Cisco Systems in the second quarter valued at $110,000. Legacy Advisors LLC boosted its holdings in Cisco Systems by 597.6% in the second quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock valued at $148,000 after acquiring an additional 2,940 shares during the last quarter. Stelac Advisory Services LLC acquired a new position in Cisco Systems in the first quarter valued at $149,000. Cerebellum GP LLC acquired a new position in Cisco Systems in the second quarter valued at $174,000. Finally, Landaas & Co. WI ADV acquired a new position in Cisco Systems in the second quarter valued at $184,000. Institutional investors and hedge funds own 71.52% of the company’s stock.

In other news, EVP Mark D. Chandler sold 31,842 shares of Cisco Systems stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $1,502,942.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $47.20, for a total value of $3,304,000.00. Following the sale, the chief financial officer now directly owns 720,930 shares in the company, valued at $34,027,896. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 450,620 shares of company stock worth $21,322,282. Corporate insiders own 0.03% of the company’s stock.

A number of research analysts recently weighed in on CSCO shares. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Tuesday, July 17th. JPMorgan Chase & Co. set a $59.00 target price on Cisco Systems and gave the company a “buy” rating in a report on Thursday, August 16th. Morgan Stanley reduced their target price on Cisco Systems from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, July 19th. BidaskClub cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Finally, Piper Jaffray Companies set a $50.00 target price on Cisco Systems and gave the company a “buy” rating in a report on Tuesday, September 11th. Eight research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Cisco Systems has an average rating of “Buy” and a consensus target price of $48.76.

NASDAQ:CSCO opened at $47.90 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.22 and a current ratio of 2.29. Cisco Systems, Inc. has a 12 month low of $33.67 and a 12 month high of $49.47. The stock has a market capitalization of $224.01 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 2.75 and a beta of 1.11.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same period last year, the company posted $0.61 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.67 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, October 4th. Cisco Systems’s payout ratio is 56.41%.

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Cisco Systems 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.

Further Reading: What is a Call Option?

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

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