Bank Pictet & Cie Europe AG Sells 2,000 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bank Pictet & Cie Europe AG decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.7% in the 3rd quarter, Holdings Channel reports. The fund owned 27,820 shares of the network equipment provider’s stock after selling 2,000 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Cisco Systems were worth $1,476,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Summit Securities Group LLC bought a new stake in shares of Cisco Systems in the second quarter valued at about $25,000. Quarry LP raised its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC lifted its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. Retirement Group LLC boosted its position in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is owned by company insiders.

Cisco Systems Stock Up 0.0 %

Cisco Systems stock opened at $56.60 on Wednesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06. The stock has a market cap of $228.03 billion, a P/E ratio of 19.06, a P/E/G ratio of 4.22 and a beta of 0.83. The company’s 50-day moving average price is $51.63 and its two-hundred day moving average price is $48.71. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.83%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Evercore ISI boosted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Tigress Financial increased their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $62.00 in a research report on Wednesday, October 16th. Barclays reduced their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average target price of $56.74.

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.