GLOBALT Investments LLC GA Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

GLOBALT Investments LLC GA lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 93.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,872 shares of the network equipment provider's stock after selling 72,481 shares during the period. GLOBALT Investments LLC GA's holdings in Cisco Systems were worth $259,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CSCO. Swedbank AB acquired a new stake in shares of Cisco Systems during the 1st quarter valued at $840,538,000. Dimensional Fund Advisors LP boosted its position in shares of Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider's stock valued at $1,254,739,000 after acquiring an additional 4,843,146 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in Cisco Systems by 5,231.5% in the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider's stock valued at $262,646,000 after buying an additional 4,842,542 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Cisco Systems by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider's stock valued at $691,678,000 after buying an additional 2,906,357 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Cisco Systems by 4,524.9% during the third quarter. International Assets Investment Management LLC now owns 2,087,369 shares of the network equipment provider's stock worth $1,110,900,000 after purchasing an additional 2,042,236 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Trading Down 0.5 %

Shares of NASDAQ CSCO traded down $0.30 during midday trading on Tuesday, reaching $57.01. The stock had a trading volume of 17,471,875 shares, compared to its average volume of 19,158,152. The firm has a market cap of $227.51 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 4.67 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.38. 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 company's 50 day moving average price is $54.35 and its 200 day moving average price is $49.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

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 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 yield of 2.81%. Cisco Systems's dividend payout ratio is presently 68.67%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares of the company's stock, valued at approximately $2,376,085.52. The trade was a 6.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,615 shares of company stock worth $682,681 over the last quarter. Corporate insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CSCO. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. Jefferies Financial Group dropped their price target on shares of Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. Needham & Company LLC reissued a "hold" rating on shares of Cisco Systems in a research note on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. Finally, Barclays upped their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.94.

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.