Allen Capital Group LLC Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Allen Capital Group LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 16.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 81,322 shares of the network equipment provider's stock after selling 15,887 shares during the period. Allen Capital Group LLC's holdings in Cisco Systems were worth $4,328,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider's stock valued at $36,847,000 after acquiring an additional 288,775 shares during the period. Citizens Financial Group Inc. RI grew its stake in Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider's stock worth $12,573,000 after purchasing an additional 51,924 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in shares of Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider's stock worth $88,261,000 after acquiring an additional 162,544 shares in the last quarter. Quintet Private Bank Europe S.A. lifted its position in Cisco Systems by 17.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider's stock valued at $33,830,000 after acquiring an additional 92,179 shares during the period. Finally, IRON Financial LLC bought a new stake in Cisco Systems during the third quarter worth about $856,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CSCO shares. Wells Fargo & Company lifted 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. Bank of America increased their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Morgan Stanley lifted their price target on Cisco Systems from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a "hold" rating in a research report on Thursday, August 15th. Finally, Tigress Financial lifted their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $59.94.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company's stock, valued at $6,501,957.20. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 342,858 shares of company stock worth $19,661,157. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.99 during trading on Friday, hitting $58.55. The company's stock had a trading volume of 14,950,493 shares, compared to its average volume of 19,109,639. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm has a market cap of $233.66 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 4.63 and a beta of 0.83. The company has a 50-day moving average of $54.84 and a 200-day moving average of $50.05. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.38.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping 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 business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period last year, the firm earned $0.98 earnings per share. The company's quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. Cisco Systems's payout ratio is currently 68.67%.

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 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.