Strategy Asset Managers LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 16.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,465 shares of the network equipment provider's stock after selling 32,376 shares during the period. Cisco Systems accounts for 1.7% of Strategy Asset Managers LLC's investment portfolio, making the stock its 13th largest holding. Strategy Asset Managers LLC's holdings in Cisco Systems were worth $9,072,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aviso Wealth Management raised its stake in shares of Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider's stock worth $405,000 after buying an additional 181 shares in the last quarter. Waypoint Capital Advisors LLC grew its position in Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider's stock worth $346,000 after buying an additional 182 shares during the period. Andina Capital Management LLC increased its holdings in Cisco Systems by 3.6% in the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider's stock valued at $279,000 after buying an additional 182 shares in the last quarter. Meridian Financial Partners LLC lifted its position 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 period. Finally, Gleason Group Inc. boosted its stake in shares of Cisco Systems by 0.9% during the 3rd quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider's stock worth $1,207,000 after acquiring an additional 193 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems Stock Performance
NASDAQ:CSCO traded up $0.12 during midday trading on Wednesday, reaching $57.13. 5,204,620 shares of the company traded hands, compared to its average volume of 19,096,154. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm has a market capitalization of $227.99 billion, a price-to-earnings ratio of 24.47, 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 fifty day moving average price of $54.52 and a 200 day moving average price of $49.95.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.98 EPS. On average, analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.
Cisco Systems Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.80%. Cisco Systems's dividend payout ratio (DPR) is 68.67%.
Insider Buying and Selling
In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems 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 completion of the sale, the senior vice president now owns 47,182 shares of the company's stock, valued at $2,376,085.52. This trade represents a 6.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares of the company's stock, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 321,628 shares of company stock valued at $18,449,561. 0.01% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. New Street Research raised Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price objective for the company in a report on Thursday, August 15th. UBS Group upped their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Rosenblatt Securities upped their target price on Cisco Systems from $56.00 to $58.00 and gave the company a "neutral" rating in a research note on Thursday, August 15th. Finally, StockNews.com raised Cisco Systems from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $59.94.
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About Cisco Systems
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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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