Nexus Investment Management ULC Has $38.84 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Nexus Investment Management ULC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 656,007 shares of the network equipment provider's stock after selling 28,208 shares during the quarter. Cisco Systems accounts for approximately 3.9% of Nexus Investment Management ULC's holdings, making the stock its 6th biggest holding. Nexus Investment Management ULC's holdings in Cisco Systems were worth $38,836,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Seven Eight Capital LP purchased a new position in Cisco Systems during the 2nd quarter valued at $242,000. Benjamin F. Edwards & Company Inc. increased its position in Cisco Systems by 20.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 174,973 shares of the network equipment provider's stock valued at $8,313,000 after purchasing an additional 29,163 shares during the period. Benjamin Edwards Inc. increased its position in Cisco Systems by 2.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 8,441 shares of the network equipment provider's stock valued at $401,000 after purchasing an additional 226 shares during the period. Sei Investments Co. increased its position in Cisco Systems by 13.7% during the 2nd quarter. Sei Investments Co. now owns 2,041,220 shares of the network equipment provider's stock valued at $96,984,000 after purchasing an additional 245,780 shares during the period. Finally, Boston Research & Management Inc. increased its position in Cisco Systems by 0.9% during the 2nd quarter. Boston Research & Management Inc. now owns 146,582 shares of the network equipment provider's stock valued at $6,964,000 after purchasing an additional 1,243 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company's stock, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 86,351 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the transaction, the chief financial officer now owns 365,314 shares of the company's stock, valued at $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.41 during midday trading on Friday, hitting $60.23. 23,800,968 shares of the company's stock traded hands, compared to its average volume of 17,184,370. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.95. The stock has a market capitalization of $239.88 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm has a fifty day moving average of $58.91 and a 200 day moving average of $53.57.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. On average, analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's dividend payout ratio is 68.67%.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of research reports. Citigroup boosted their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the company a "buy" rating in a report on Friday. Bank of America boosted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Morgan Stanley boosted their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Melius upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their target price for the company from $66.00 to $73.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company boosted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the company an "equal weight" rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.50.

About Cisco Systems

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.