Hemenway Trust Co LLC Sells 1,460 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Hemenway Trust Co LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 21.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,228 shares of the network equipment provider’s stock after selling 1,460 shares during the period. Hemenway Trust Co LLC’s holdings in Cisco Systems were worth $278,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in Cisco Systems by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after buying an additional 1,853,598 shares during the period. Legal & General Group Plc increased its position in Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after buying an additional 1,530,468 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after purchasing an additional 4,843,146 shares in the last quarter. Swedbank AB acquired a new stake in shares of Cisco Systems during the 1st quarter worth approximately $840,538,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Cisco Systems by 26.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after purchasing an additional 2,906,357 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 over the last 90 days. 0.01% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on CSCO shares. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Jefferies Financial Group decreased their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Tigress Financial lifted their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Barclays decreased their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $57.32.

Cisco Systems Price Performance

Cisco Systems stock traded up $0.13 on Tuesday, reaching $58.76. The company’s stock had a trading volume of 490,018 shares, compared to its average volume of 18,884,896. The company has a market cap of $234.50 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 4.81 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The business’s fifty day moving average price is $53.46 and its 200 day moving average price is $49.49.

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

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.72%. Cisco Systems’s payout ratio is currently 62.99%.

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.