Te Ahumairangi Investment Management Ltd Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Te Ahumairangi Investment Management Ltd cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% during the third quarter, HoldingsChannel.com reports. The fund owned 172,268 shares of the network equipment provider’s stock after selling 6,950 shares during the quarter. Cisco Systems makes up approximately 1.6% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 16th biggest holding. Te Ahumairangi Investment Management Ltd’s holdings in Cisco Systems were worth $9,116,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Summit Securities Group LLC purchased a new position in shares of Cisco Systems during the second quarter worth approximately $25,000. Quarry LP increased its position in shares of 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 period. West Financial Advisors LLC boosted its stake in shares of Cisco Systems by 116.6% during 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 bought a new position in shares of Cisco Systems during the second quarter valued at approximately $36,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the third quarter valued at approximately $40,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total value of $291,542.13. Following the completion of the transaction, the senior vice president now owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. The trade was a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the transaction, the executive vice president now directly owns 219,100 shares of the company’s stock, valued at $12,596,059. The trade was a 20.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 349,894 shares of company stock valued at $20,135,273. Corporate insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CSCO shares. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, August 15th. Tigress Financial raised their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Barclays raised their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Evercore ISI raised their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Trading Down 0.2 %

Shares of Cisco Systems stock opened at $58.59 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm has a fifty day moving average price of $56.89 and a 200 day moving average price of $51.19. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.23. The stock has a market cap of $233.35 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 4.39 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter last year, the company posted $0.98 earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year. Equities research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

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 issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.73%. Cisco Systems’s payout ratio is 68.67%.

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.