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

Dearborn Partners LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,645 shares of the network equipment provider’s stock after selling 618 shares during the period. Dearborn Partners LLC’s holdings in Cisco Systems were worth $992,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CSCO. China Universal Asset Management Co. Ltd. boosted its position in shares of Cisco Systems by 226.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after purchasing an additional 18,339 shares during the period. M&G Plc acquired a new stake in shares of Cisco Systems in the 1st quarter worth approximately $46,071,000. Mizuho Markets Americas LLC raised its position in Cisco Systems by 90.0% during the first quarter. Mizuho Markets Americas LLC now owns 650,818 shares of the network equipment provider’s stock worth $32,482,000 after acquiring an additional 308,300 shares during the last quarter. Councilmark Asset Management LLC purchased a new stake in Cisco Systems during the 1st quarter worth about $2,200,000. Finally, Te Ahumairangi Investment Management Ltd raised its holdings in Cisco Systems by 4.8% in the 1st quarter. Te Ahumairangi Investment Management Ltd now owns 178,218 shares of the network equipment provider’s stock valued at $8,895,000 after acquiring an additional 8,210 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Down 2.1 %

Shares of Cisco Systems stock opened at $57.92 on Friday. The stock has a market capitalization of $231.14 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 4.90 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.38. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The business’s 50 day simple moving average is $53.82 and its 200-day simple moving average is $49.64.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period last year, the business posted $1.01 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. Equities research analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share 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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.76%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insider Buying and Selling at Cisco Systems

In related news, CFO Richard Scott Herren sold 22,309 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the transaction, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at approximately $14,659,200. The trade was a 7.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This represents a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,924 shares of company stock worth $1,798,131. 0.01% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on CSCO shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Citigroup lifted their target price on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday. Barclays upped their price target on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, UBS Group raised their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday. Eleven 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.42.

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.