Voya Investment Management LLC Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Voya Investment Management LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,057,522 shares of the network equipment provider's stock after selling 664,805 shares during the quarter. Voya Investment Management LLC owned 0.15% of Cisco Systems worth $358,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the business. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the 4th quarter valued at $30,000. Campbell Capital Management Inc. bought a new position in shares of Cisco Systems in the 4th quarter worth $31,000. Highline Wealth Partners LLC raised its stake in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock worth $35,000 after acquiring an additional 260 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new stake in Cisco Systems in the 4th quarter worth approximately $36,000. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CSCO shares. Rosenblatt Securities dropped their target price on Cisco Systems from $80.00 to $63.00 and set a "buy" rating on the stock in a report on Tuesday. UBS Group boosted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price on the stock in a research report on Tuesday, January 28th. StockNews.com lowered shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 5th. Finally, Melius raised shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price of $64.68.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Up 1.1 %

Shares of NASDAQ:CSCO opened at $55.62 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The company's 50-day moving average price is $60.16 and its 200 day moving average price is $59.13. The company has a market cap of $221.28 billion, a PE ratio of 24.29, a P/E/G ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Thursday, April 3rd. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

Cisco Systems Company 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.

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.