Foyston Gordon & Payne Inc Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Foyston Gordon & Payne Inc reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 64.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,844 shares of the network equipment provider's stock after selling 76,409 shares during the period. Foyston Gordon & Payne Inc's holdings in Cisco Systems were worth $2,227,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Summit Securities Group LLC purchased a new position in Cisco Systems in the 2nd quarter worth approximately $25,000. Quarry LP increased its stake in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC increased its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after buying an additional 309 shares during the period. Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the 2nd quarter valued at $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems during the 3rd quarter valued at $40,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company's stock, valued at $2,258,974.53. This represents a 1.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the sale, the director now directly owns 65,915 shares of the company's stock, valued at $3,946,331.05. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 351,860 shares of company stock worth $20,231,558 over the last quarter. 0.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CSCO. Evercore ISI boosted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Friday, September 20th. HSBC upgraded Cisco Systems from a "hold" rating to a "buy" rating and increased their price objective for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Rosenblatt Securities boosted their target price on Cisco Systems from $56.00 to $58.00 and gave the company a "neutral" rating in a research note on Thursday, August 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Bank of America lifted their price target 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. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.94.

Cisco Systems Stock Down 0.4 %

Shares of NASDAQ:CSCO traded down $0.23 on Tuesday, hitting $58.72. 14,387,694 shares of the company traded hands, compared to its average volume of 19,045,088. The company has a market cap of $233.87 billion, a PE ratio of 25.30, a PEG ratio of 4.46 and a beta of 0.85. The stock has a 50 day simple moving average of $56.65 and a 200-day simple moving average of $51.05. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.23. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $13.78 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's payout ratio is 68.67%.

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.