Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,619,831 shares of the network equipment provider’s stock after selling 1,869,252 shares during the period. Wellington Management Group LLP owned approximately 1.37% of Cisco Systems worth $2,906,867,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new position in shares of Cisco Systems in the second quarter valued at $25,000. Quarry LP raised its position in Cisco Systems by 222.4% during the second 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. West Financial Advisors LLC lifted its holdings in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems during the 3rd quarter worth approximately $40,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.7 %

Shares of Cisco Systems stock opened at $60.02 on Friday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.23. The stock has a market cap of $239.05 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 4.43 and a beta of 0.85. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company has a fifty day moving average price of $56.40 and a 200 day moving average price of $50.82.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share 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. Stockholders 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 dividend yield of 2.67%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the sale, the senior vice president now directly owns 51,931 shares in the company, valued at $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 344,360 shares of company stock valued at $19,782,533. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of a number of analyst reports. Wells Fargo & Company increased their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Bank of America increased their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Tigress Financial raised their price target 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. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

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.