Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Asset Dedication LLC

Asset Dedication LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 28.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,894 shares of the network equipment provider’s stock after selling 19,088 shares during the period. Asset Dedication LLC’s holdings in Cisco Systems were worth $2,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after buying an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC raised its position in Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after buying an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Cisco Systems by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after buying an additional 1,677,383 shares during the last quarter. FMR LLC grew its stake in shares of Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Cisco Systems by 1.2% during the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after purchasing an additional 216,632 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.6 %

CSCO stock opened at $59.43 on Wednesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $62.31. 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 market capitalization of $236.70 billion, a P/E ratio of 25.51, a PEG ratio of 4.59 and a beta of 0.84. The firm has a 50 day simple moving average of $59.30 and a 200-day simple moving average of $54.32.

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

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Citigroup raised their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley raised their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, 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. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.72.

Insiders Place Their Bets

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now directly owns 65,915 shares in the company, valued at approximately $3,946,331.05. This trade represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the firm’s 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 sale, the senior vice president now owns 51,931 shares in the company, valued at $3,101,838.63. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 over the last 90 days. 0.01% of the stock is owned by company insiders.

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.