Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 17.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 555,736 shares of the network equipment provider's stock after selling 120,998 shares during the period. Ferguson Wellman Capital Management Inc.'s holdings in Cisco Systems were worth $29,576,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Integris Wealth Management LLC boosted its holdings in shares of Cisco Systems by 8.3% during the third quarter. Integris Wealth Management LLC now owns 9,744 shares of the network equipment provider's stock worth $519,000 after purchasing an additional 749 shares during the last quarter. NovaPoint Capital LLC acquired a new position in Cisco Systems in the third quarter valued at $214,000. Capital Investment Advisors LLC lifted its position in Cisco Systems by 5.2% during the third quarter. Capital Investment Advisors LLC now owns 975,833 shares of the network equipment provider's stock worth $51,934,000 after buying an additional 47,853 shares during the period. Blue Trust Inc. grew its holdings in Cisco Systems by 105.8% in the 3rd quarter. Blue Trust Inc. now owns 55,169 shares of the network equipment provider's stock valued at $2,936,000 after buying an additional 28,362 shares during the period. Finally, Meridian Financial Partners LLC increased its stake in shares of Cisco Systems by 3.8% during the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider's stock valued at $267,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Stock Performance

Cisco Systems stock traded up $0.36 during mid-day trading on Friday, reaching $56.76. The company's stock had a trading volume of 17,679,841 shares, compared to its average volume of 19,181,732. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $56.87. The business has a 50 day moving average price of $51.17 and a 200-day moving average price of $48.60. The firm has a market cap of $228.68 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The company's revenue for the quarter was down 10.3% compared to the same quarter last year. Sell-side analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.82%. Cisco Systems's dividend payout ratio is currently 53.87%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CSCO shares. Barclays decreased their target price on shares of Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 15th. HSBC upgraded Cisco Systems from a "hold" rating to a "buy" rating and upped their price objective for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Evercore ISI lifted their target price on Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Friday, September 20th. Tigress Financial upped their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Finally, New Street Research upgraded Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 target price for the company in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $56.74.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares of the company's stock, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the business's stock in a transaction dated 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 $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 in the last three months. 0.02% of the stock is owned by insiders.

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.

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