Mediolanum International Funds Ltd Sells 97,356 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Mediolanum International Funds Ltd lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 13.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 646,830 shares of the network equipment provider's stock after selling 97,356 shares during the period. Mediolanum International Funds Ltd's holdings in Cisco Systems were worth $34,238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brookstone Capital Management raised its stake in shares of Cisco Systems by 9.4% during the first quarter. Brookstone Capital Management now owns 55,083 shares of the network equipment provider's stock valued at $2,749,000 after acquiring an additional 4,712 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in Cisco Systems by 28.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 53,871 shares of the network equipment provider's stock worth $2,689,000 after buying an additional 12,072 shares during the period. Sawyer & Company Inc grew its position in shares of Cisco Systems by 4.6% in the 1st quarter. Sawyer & Company Inc now owns 47,696 shares of the network equipment provider's stock valued at $2,381,000 after buying an additional 2,115 shares during the last quarter. Norway Savings Bank increased its stake in shares of Cisco Systems by 15.3% in the first quarter. Norway Savings Bank now owns 9,295 shares of the network equipment provider's stock valued at $464,000 after buying an additional 1,230 shares during the period. Finally, Financial Management Professionals Inc. raised its position in shares of Cisco Systems by 3.4% during the first quarter. Financial Management Professionals Inc. now owns 9,025 shares of the network equipment provider's stock worth $450,000 after acquiring an additional 293 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

CSCO stock traded down $0.22 during mid-day trading on Friday, hitting $55.74. The company had a trading volume of 14,678,865 shares, compared to its average volume of 19,091,068. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.06. The stock's fifty day moving average price is $52.00 and its two-hundred day moving average price is $48.82. The firm has a market cap of $224.57 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The business's revenue was down 10.3% on a year-over-year basis. On average, analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. Cisco Systems's payout ratio is 53.87%.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 638 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business's 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 transaction, the executive vice president now owns 132,910 shares of the company's stock, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,529 shares of company stock valued at $3,509,049. Corporate insiders own 0.02% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CSCO shares. New Street Research upgraded shares of Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. Citigroup upgraded Cisco Systems from a "neutral" rating to a "buy" rating and upped their target price for the company from $52.00 to $62.00 in a research report on Wednesday, October 16th. Barclays lowered their target price on Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating for the company in a report on Thursday, August 15th. Finally, Hsbc Global Res upgraded Cisco Systems to a "strong-buy" rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Cisco Systems has a consensus rating of "Hold" and an average target price of $56.74.

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.