Platform Technology Partners Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Platform Technology Partners reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,805 shares of the network equipment provider’s stock after selling 198 shares during the quarter. Platform Technology Partners’ holdings in Cisco Systems were worth $469,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Swedbank AB purchased a new stake in shares of Cisco Systems during the first quarter valued at approximately $840,538,000. Dimensional Fund Advisors LP boosted its position in Cisco Systems by 22.5% in the 2nd 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 buying an additional 4,843,146 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Cisco Systems by 5,231.5% during the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after acquiring an additional 4,842,542 shares in the last quarter. Natixis increased its holdings in Cisco Systems by 438.4% during the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after purchasing an additional 4,010,228 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Cisco Systems by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after purchasing an additional 2,906,357 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO opened at $58.63 on Tuesday. The business has a 50 day moving average price of $53.46 and a two-hundred day moving average price of $49.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company has a market capitalization of $233.98 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 4.81 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. Research analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given 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 2.73%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction 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 $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the 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 in the company, valued at $6,821,929.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction 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 transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 in the last three months. 0.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on CSCO. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. upgraded 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. Jefferies Financial Group lowered their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.32.

About Cisco Systems

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.