Gateway Investment Advisers LLC Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Gateway Investment Advisers LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,303,803 shares of the network equipment provider’s stock after selling 32,776 shares during the quarter. Cisco Systems accounts for 0.9% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 22nd biggest holding. Gateway Investment Advisers LLC’s holdings in Cisco Systems were worth $77,185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CSCO. Quest Partners LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter valued at approximately $62,000. Lumbard & Kellner LLC raised its position in Cisco Systems by 1.0% in the second quarter. Lumbard & Kellner LLC now owns 105,076 shares of the network equipment provider’s stock worth $4,992,000 after acquiring an additional 1,011 shares in the last quarter. E Fund Management Co. Ltd. lifted its holdings in Cisco Systems by 19.7% in the second quarter. E Fund Management Co. Ltd. now owns 100,518 shares of the network equipment provider’s stock valued at $4,776,000 after acquiring an additional 16,554 shares during the period. Meridian Wealth Partners LLC boosted its position in shares of Cisco Systems by 6.4% during the 2nd quarter. Meridian Wealth Partners LLC now owns 4,709 shares of the network equipment provider’s stock worth $224,000 after purchasing an additional 282 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Cisco Systems by 4.7% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 149,542 shares of the network equipment provider’s stock worth $7,105,000 after purchasing an additional 6,761 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at $21,001,901.86. The trade was a 19.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,522 shares of company stock valued at $20,349,721. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 0.0 %

CSCO traded up $0.02 during trading on Thursday, hitting $60.00. The company’s stock had a trading volume of 1,139,739 shares, compared to its average volume of 15,841,296. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.34. The firm’s 50 day moving average price is $58.79 and its 200-day moving average price is $53.34. 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 stock has a market cap of $238.97 billion, a PE ratio of 25.75, a PEG ratio of 4.37 and a beta of 0.84.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. Cisco Systems’s payout ratio is 68.67%.

Analyst Ratings Changes

CSCO has been the subject of several recent analyst reports. Tigress Financial raised their price objective 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. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. UBS Group upped their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Evercore ISI lifted their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Citigroup upped their target price on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $61.28.

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.