GLOBALT Investments LLC GA Trims Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

GLOBALT Investments LLC GA decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 93.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,872 shares of the network equipment provider’s stock after selling 72,481 shares during the period. GLOBALT Investments LLC GA’s holdings in Cisco Systems were worth $259,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Waypoint Capital Advisors LLC grew its stake 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 valued at $346,000 after acquiring an additional 182 shares in the last quarter. Andina Capital Management LLC boosted its holdings in Cisco Systems by 3.6% in the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after purchasing an additional 182 shares during the period. Meridian Financial Partners LLC grew 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 purchasing an additional 185 shares in the last quarter. Gleason Group Inc. raised its position in shares of Cisco Systems by 0.9% in the third quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock worth $1,207,000 after buying an additional 193 shares in the last quarter. Finally, Cassia Capital Partners LLC boosted its stake in Cisco Systems by 1.5% during the third quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider’s stock valued at $696,000 after buying an additional 195 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,615 shares of company stock worth $682,681 over the last quarter. 0.01% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CSCO has been the topic of several recent analyst reports. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Evercore ISI boosted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Morgan Stanley upped their target price on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Stock Down 0.3 %

Shares of NASDAQ CSCO opened at $57.31 on Tuesday. The firm’s fifty day moving average is $54.35 and its 200 day moving average is $49.88. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market cap of $228.71 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 4.76 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.79%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

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.