Massachusetts Financial Services Co. MA Trims Stake in Cisco Systems, Inc. (CSCO)

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Massachusetts Financial Services Co. MA lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,165,059 shares of the network equipment provider’s stock after selling 1,226,986 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.46% of Cisco Systems worth $1,078,330,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley increased its holdings in Cisco Systems by 15.9% in the 2nd quarter. Morgan Stanley now owns 50,957,358 shares of the network equipment provider’s stock worth $2,192,694,000 after acquiring an additional 7,009,359 shares in the last quarter. Charles Schwab Investment Advisory Inc. purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $279,790,000. Putnam Investments LLC increased its holdings in Cisco Systems by 44.9% in the 2nd quarter. Putnam Investments LLC now owns 7,610,821 shares of the network equipment provider’s stock worth $327,494,000 after acquiring an additional 2,359,159 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Cisco Systems by 11.9% in the 3rd quarter. Fisher Asset Management LLC now owns 20,099,819 shares of the network equipment provider’s stock worth $977,856,000 after acquiring an additional 2,129,952 shares in the last quarter. Finally, Royal London Asset Management Ltd. purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $90,333,000. 69.25% of the stock is owned by hedge funds and other institutional investors.

Shares of CSCO opened at $43.49 on Monday. The company has a quick ratio of 2.05, a current ratio of 2.11 and a debt-to-equity ratio of 0.42. The company has a market cap of $208.69 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 2.54 and a beta of 1.15. Cisco Systems, Inc. has a 1 year low of $37.35 and a 1 year high of $49.47.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.86 billion. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. Analysts forecast that Cisco Systems, Inc. will post 2.7 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Friday, January 4th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, January 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.04%. Cisco Systems’s dividend payout ratio is currently 56.41%.

Several equities research analysts recently issued reports on CSCO shares. Deutsche Bank increased their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 15th. UBS Group set a $56.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a report on Wednesday, September 26th. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, October 3rd. Raymond James increased their target price on shares of Cisco Systems from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, November 15th. Finally, Credit Suisse Group increased their target price on shares of Cisco Systems from $43.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, November 15th. Eight analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Cisco Systems has a consensus rating of “Buy” and an average target price of $51.05.

In other news, SVP Irving Tan sold 28,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $48.43, for a total transaction of $1,356,040.00. Following the completion of the transaction, the senior vice president now directly owns 188,853 shares in the company, valued at approximately $9,146,150.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director M Michele Burns sold 4,744 shares of the stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $44.06, for a total value of $209,020.64. Following the transaction, the director now owns 74,164 shares of the company’s stock, valued at $3,267,665.84. The disclosure for this sale can be found here. Insiders have sold a total of 166,067 shares of company stock valued at $7,804,662 over the last quarter. Corporate insiders own 0.03% of the company’s stock.

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Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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