Cisco Systems, Inc. (NASDAQ:CSCO) is Penserra Capital Management LLC's 2nd Largest Position

Penserra Capital Management LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 31.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,479,643 shares of the network equipment provider's stock after selling 1,153,709 shares during the quarter. Cisco Systems makes up about 2.9% of Penserra Capital Management LLC's holdings, making the stock its 2nd largest position. Penserra Capital Management LLC owned about 0.06% of Cisco Systems worth $131,964,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the second quarter worth $25,000. Quarry LP lifted its holdings in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC boosted its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 309 shares during the period. Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the 2nd quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC increased its position in shares of Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock valued at $42,000 after buying an additional 766 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares of the company's stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $3,345,228.12. Following the sale, the executive vice president now directly owns 219,100 shares in the company, valued at approximately $12,596,059. The trade was a 20.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 342,858 shares of company stock valued at $19,661,157. Company insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Cisco Systems from $58.00 to $62.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. New Street Research raised shares of Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price target on the stock in a report on Thursday, August 15th. Bank of America lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Barclays raised their price target on Cisco Systems from $49.00 to $56.00 and gave the company an "equal weight" rating in a report on Thursday, November 14th. Finally, Citigroup boosted their price objective on Cisco Systems from $62.00 to $64.00 and gave the stock a "buy" rating in a report 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.94.

Cisco Systems Trading Up 1.7 %

Shares of NASDAQ:CSCO traded up $0.99 during trading on Friday, reaching $58.55. 14,952,324 shares of the company traded hands, compared to its average volume of 19,288,296. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38. The firm has a market capitalization of $233.19 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 4.28 and a beta of 0.83. The business's fifty day moving average is $55.02 and its 200-day moving average is $50.17.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for 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%. The company's revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. As a group, analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, January 3rd. Cisco Systems's dividend payout ratio (DPR) 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.