Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Canopy Partners LLC

Canopy Partners LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,262 shares of the network equipment provider’s stock after selling 185 shares during the period. Canopy Partners LLC’s holdings in Cisco Systems were worth $493,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after purchasing an additional 288,775 shares during the period. Citizens Financial Group Inc. RI increased its stake in Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after buying an additional 51,924 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after buying an additional 162,544 shares during the last quarter. Quintet Private Bank Europe S.A. lifted its stake in shares of Cisco Systems by 17.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock worth $33,830,000 after acquiring an additional 92,179 shares during the period. Finally, IRON Financial LLC purchased a new stake in shares of Cisco Systems in the third quarter valued at about $856,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of analyst reports. Rosenblatt Securities lifted their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Bank of America raised their target price on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, UBS Group boosted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Ten investment 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Cisco Systems Trading Up 1.7 %

CSCO opened at $58.55 on Friday. The firm has a market capitalization of $233.19 billion, a P/E ratio of 25.13, a P/E/G ratio of 4.28 and a beta of 0.83. The firm’s 50 day moving average is $55.02 and its 200-day moving average is $50.13. The company has a quick ratio of 0.80, a current ratio of 0.88 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.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm 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 firm’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. Analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Insider Activity

In related news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The stock was 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 in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 342,858 shares of company stock worth $19,661,157. 0.01% of the stock is currently owned by insiders.

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.