Bellevue Asset Management LLC Has $632,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Bellevue Asset Management LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.1% during the third quarter, Holdings Channel reports. The firm owned 11,884 shares of the network equipment provider’s stock after selling 1,048 shares during the period. Bellevue Asset Management LLC’s holdings in Cisco Systems were worth $632,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its stake in Cisco Systems by 16.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,288,768 shares of the network equipment provider’s stock valued at $64,322,000 after buying an additional 177,588 shares during the period. Kovack Advisors Inc. lifted its stake in Cisco Systems by 15.7% in the first quarter. Kovack Advisors Inc. now owns 26,827 shares of the network equipment provider’s stock valued at $1,339,000 after buying an additional 3,638 shares during the period. Cornerstone Wealth Management LLC lifted its stake in Cisco Systems by 2.4% in the first quarter. Cornerstone Wealth Management LLC now owns 38,053 shares of the network equipment provider’s stock valued at $1,899,000 after buying an additional 889 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake 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 buying an additional 18,339 shares during the period. Finally, Diversify Advisory Services LLC acquired a new position in Cisco Systems in the first quarter valued at approximately $5,064,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.2 %

Shares of NASDAQ CSCO opened at $55.59 on Thursday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $57.06. The business has a 50-day simple moving average of $52.44 and a two-hundred day simple moving average of $49.00. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $221.84 billion, a P/E ratio of 21.89, a P/E/G ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The business 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 revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. Research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared 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 was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CSCO shares. Rosenblatt Securities boosted their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. 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 report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, August 15th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Monday. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $56.74.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the firm’s 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 transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Cisco Systems news, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the transaction, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at $14,659,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,529 shares of company stock valued at $3,509,049. Corporate insiders own 0.01% of the company’s stock.

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.