Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Tredje AP fonden

Tredje AP fonden trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 28.3% in the second quarter, Holdings Channel reports. The fund owned 281,278 shares of the network equipment provider’s stock after selling 111,000 shares during the period. Tredje AP fonden’s holdings in Cisco Systems were worth $13,364,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in Cisco Systems in the 2nd quarter valued at $25,000. Retirement Group LLC boosted its holdings in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter worth about $36,000. Tidemark LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth about $41,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Cisco Systems in the first quarter valued at about $41,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Down 0.8 %

Shares of CSCO stock opened at $50.61 on Wednesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $56.28. The company has a market capitalization of $203.90 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 3.87 and a beta of 0.83. The firm has a 50-day moving average price of $48.25 and a 200 day moving average price of $47.99. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 earnings per share. Research analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems 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 transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSCO. Barclays dropped their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $55.89.

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.