BNP Paribas Sells 17,850 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

BNP Paribas cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 16.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,598 shares of the network equipment provider’s stock after selling 17,850 shares during the period. BNP Paribas’ holdings in Cisco Systems were worth $4,871,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Cisco Systems by 108.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,582,670 shares of the network equipment provider’s stock valued at $190,670,000 after purchasing an additional 1,865,730 shares in the last quarter. Insight Wealth Partners LLC lifted its position in shares of Cisco Systems by 6.7% during the 3rd quarter. Insight Wealth Partners LLC now owns 17,801 shares of the network equipment provider’s stock worth $947,000 after buying an additional 1,118 shares in the last quarter. Cadence Bank boosted its stake in shares of Cisco Systems by 0.4% in the 3rd quarter. Cadence Bank now owns 197,604 shares of the network equipment provider’s stock worth $10,516,000 after buying an additional 828 shares during the last quarter. Shum Financial Group Inc. purchased a new position in shares of Cisco Systems in the 3rd quarter worth approximately $1,025,000. Finally, Principal Street Partners LLC grew its holdings in shares of Cisco Systems by 51.3% in the third quarter. Principal Street Partners LLC now owns 13,704 shares of the network equipment provider’s stock valued at $677,000 after acquiring an additional 4,648 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 opened at $59.59 on Wednesday. The business’s fifty day moving average is $55.35 and its 200 day moving average is $50.32. The firm has a market cap of $237.33 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 4.38 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.64.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. Research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. UBS Group lifted their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Bank of America lifted their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Rosenblatt Securities increased their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Evercore ISI lifted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, Morgan Stanley boosted their target price on shares of Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 339,479 shares of company stock valued at $19,490,991 in the last three months. Company insiders own 0.01% of the company’s stock.

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.