Northpointe Capital LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,765 shares of the network equipment provider’s stock after selling 2,144 shares during the quarter. Cisco Systems makes up about 1.4% of Northpointe Capital LLC’s portfolio, making the stock its 5th largest position. Northpointe Capital LLC’s holdings in Cisco Systems were worth $9,962,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. LFA Lugano Financial Advisors SA lifted its stake in shares of Cisco Systems by 220,000.0% in the third quarter. LFA Lugano Financial Advisors SA now owns 2,201 shares of the network equipment provider’s stock valued at $107,000 after buying an additional 2,200 shares in the last quarter. JJJ Advisors Inc. bought a new position in shares of Cisco Systems in the second quarter valued at $110,000. Legacy Advisors LLC lifted its stake in shares of Cisco Systems by 597.6% in the second quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock valued at $148,000 after buying an additional 2,940 shares in the last quarter. Shamrock Asset Management LLC lifted its stake in shares of Cisco Systems by 3,623.0% in the third quarter. Shamrock Asset Management LLC now owns 3,723 shares of the network equipment provider’s stock valued at $181,000 after buying an additional 3,623 shares in the last quarter. Finally, Landaas & Co. WI ADV bought a new position in shares of Cisco Systems during the second quarter valued at about $184,000. 69.25% of the stock is currently owned by institutional investors and hedge funds.
CSCO has been the topic of a number of recent analyst reports. UBS Group set a $56.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research report on Wednesday, September 26th. Piper Jaffray Companies set a $53.00 price target on shares of Cisco Systems and gave the company an “overweight” rating in a research report on Monday, October 1st. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, October 3rd. Deutsche Bank raised their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 15th. Finally, Credit Suisse Group raised their price target on shares of Cisco Systems from $43.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday, November 15th. Eight analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $51.05.
NASDAQ CSCO opened at $43.49 on Monday. Cisco Systems, Inc. has a 52-week low of $37.35 and a 52-week high of $49.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 2.05. The stock has a market cap of $208.69 billion, a P/E ratio of 18.59, a P/E/G ratio of 2.54 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter last year, the company posted $0.61 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.7 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Friday, January 4th will be issued 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 yield of 3.04%. Cisco Systems’s dividend payout ratio (DPR) is presently 56.41%.
In other news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $47.44, for a total value of $3,320,800.00. Following the completion of the transaction, the chief financial officer now owns 492,301 shares in the company, valued at $23,354,759.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Michele Burns sold 4,744 shares of Cisco Systems stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $44.06, for a total transaction of $209,020.64. Following the completion of the transaction, the director now owns 74,164 shares of the company’s stock, valued at approximately $3,267,665.84. The disclosure for this sale can be found here. Insiders have sold 166,067 shares of company stock valued at $7,804,662 in the last 90 days. 0.03% of the stock is currently owned by corporate insiders.
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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 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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