Colonial River Investments LLC Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Colonial River Investments LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 72.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 8,053 shares of the network equipment provider’s stock after selling 20,986 shares during the period. Colonial River Investments LLC’s holdings in Cisco Systems were worth $429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. China Universal Asset Management Co. Ltd. boosted its holdings in Cisco Systems by 226.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after purchasing an additional 18,339 shares in the last quarter. WealthPLAN Partners LLC boosted its stake in Cisco Systems by 3.0% in the first quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock valued at $369,000 after acquiring an additional 213 shares in the last quarter. Atomi Financial Group Inc. grew its holdings in shares of Cisco Systems by 76.3% during the first quarter. Atomi Financial Group Inc. now owns 13,304 shares of the network equipment provider’s stock worth $664,000 after purchasing an additional 5,758 shares during the last quarter. Sei Investments Co. grew its stake in Cisco Systems by 0.5% during the 1st quarter. Sei Investments Co. now owns 1,795,440 shares of the network equipment provider’s stock worth $89,619,000 after buying an additional 9,023 shares during the last quarter. Finally, Choate Investment Advisors increased its position in Cisco Systems by 1.0% during the first quarter. Choate Investment Advisors now owns 123,337 shares of the network equipment provider’s stock worth $6,156,000 after buying an additional 1,229 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last quarter. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Trading Down 0.0 %

CSCO opened at $58.06 on Friday. The firm has a market capitalization of $231.70 billion, a P/E ratio of 22.86, a P/E/G ratio of 4.79 and a beta of 0.83. The firm’s 50 day moving average is $53.30 and its 200-day moving average is $49.40. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $58.30.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the business earned $1.01 EPS. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. Cisco Systems’s dividend payout ratio (DPR) is 62.99%.

Analysts Set New Price Targets

CSCO has been the subject of several research analyst reports. Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. 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. Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Barclays decreased their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.74.

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.