Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,293 shares of the network equipment provider’s stock after selling 272 shares during the period. Cim Investment Management Inc.’s holdings in Cisco Systems were worth $814,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Aviso Wealth Management increased its stake in Cisco Systems by 2.4% in the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock valued at $405,000 after buying an additional 181 shares during the period. Waypoint Capital Advisors LLC increased its stake in shares of Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after acquiring an additional 182 shares during the period. Andina Capital Management LLC raised its holdings in Cisco Systems by 3.6% during the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock worth $279,000 after purchasing an additional 182 shares in the last quarter. Wealth Dimensions Group Ltd. lifted its position in Cisco Systems by 1.6% in the third quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider’s stock valued at $605,000 after purchasing an additional 182 shares during the period. Finally, Meridian Financial Partners LLC boosted its holdings in Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 349,894 shares of company stock worth $20,135,273 in the last 90 days. 0.01% of the stock is owned by company insiders.

Cisco Systems Trading Up 1.5 %

Shares of NASDAQ CSCO traded up $0.89 during midday trading on Thursday, reaching $59.48. 1,816,344 shares of the stock were exchanged, compared to its average volume of 19,027,707. 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 $236.89 billion, a P/E ratio of 25.15, a P/E/G ratio of 4.39 and a beta of 0.85. The stock has a 50 day moving average price of $56.89 and a 200-day moving average price of $51.19. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.23.

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

Cisco Systems Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Bank of America raised their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Jefferies Financial Group decreased their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. UBS Group increased their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Tigress Financial upped 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, Wells Fargo & Company lifted their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Ten investment 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 data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $59.94.

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.