Penserra Capital Management LLC Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Penserra Capital Management LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 31.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,479,643 shares of the network equipment provider’s stock after selling 1,153,709 shares during the period. Cisco Systems comprises about 2.9% of Penserra Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. Penserra Capital Management LLC owned 0.06% of Cisco Systems worth $131,964,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of Cisco Systems during the 2nd quarter valued at $25,000. West Financial Advisors LLC grew its holdings 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 worth $31,000 after acquiring an additional 309 shares during the last quarter. Quarry LP grew its holdings in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Cisco Systems in the 2nd quarter worth $36,000. Finally, Iron Horse Wealth Management LLC grew its holdings in Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after acquiring an additional 766 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on 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 directly owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 342,858 shares of company stock worth $19,661,157. 0.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CSCO shares. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Tigress Financial raised their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Trading Up 1.7 %

Shares of NASDAQ CSCO opened at $58.55 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38. The stock has a market cap of $233.19 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 4.28 and a beta of 0.83. The firm has a 50-day moving average of $55.02 and a 200 day moving average of $50.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.73%. Cisco Systems’s dividend payout ratio is currently 68.67%.

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 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.