Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Prudent Man Advisors LLC

Prudent Man Advisors LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 44.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,623 shares of the network equipment provider's stock after selling 14,665 shares during the period. Prudent Man Advisors LLC's holdings in Cisco Systems were worth $991,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. Bank of New York Mellon Corp increased its position in Cisco Systems by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider's stock valued at $3,340,764,000 after acquiring an additional 1,853,598 shares during the last quarter. Legal & General Group Plc increased its position in Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider's stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Cisco Systems by 22.5% during the second 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 during the last quarter. Swedbank AB purchased a new stake in Cisco Systems during the first quarter valued at $840,538,000. Finally, Price T Rowe Associates Inc. MD increased 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 worth $691,678,000 after buying an additional 2,906,357 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Trading Down 0.3 %

Shares of NASDAQ CSCO traded down $0.15 during midday trading on Monday, hitting $57.31. The company's stock had a trading volume of 23,769,276 shares, compared to its average volume of 19,165,666. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The business's 50 day moving average is $54.35 and its two-hundred day moving average is $49.88. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38. The firm has a market cap of $228.71 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 4.76 and a beta of 0.83.

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

Cisco Systems Dividend Announcement

The company 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 dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.79%. Cisco Systems's payout ratio is currently 68.67%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CSCO shares. Rosenblatt Securities upped their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. 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 report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. Bank of America increased their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Wells Fargo & Company increased their price target on Cisco Systems from $57.00 to $60.00 and gave the company an "equal weight" rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and a consensus target price of $59.94.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares of the company's stock, valued at $6,821,929.52. This trade represents a 5.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 22,309 shares of the firm's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the sale, the chief financial officer now directly owns 293,184 shares of the company's stock, valued at $14,659,200. The trade was a 7.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,924 shares of company stock worth $1,798,131. 0.01% of the stock is currently owned by company insiders.

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.