Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 559,813 shares of the network equipment provider’s stock after selling 12,163 shares during the quarter. Pathstone Holdings LLC’s holdings in Cisco Systems were worth $29,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its stake in Cisco Systems by 226.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock worth $1,319,000 after purchasing an additional 18,339 shares during the period. Bessemer Group Inc. raised its position in shares of Cisco Systems by 33.9% in the 1st quarter. Bessemer Group Inc. now owns 231,166 shares of the network equipment provider’s stock worth $11,538,000 after buying an additional 58,463 shares during the period. Evermay Wealth Management LLC boosted its holdings in Cisco Systems by 2.0% in the first quarter. Evermay Wealth Management LLC now owns 19,156 shares of the network equipment provider’s stock valued at $956,000 after acquiring an additional 367 shares during the last quarter. Leelyn Smith LLC grew its position in Cisco Systems by 1.0% during the first quarter. Leelyn Smith LLC now owns 45,375 shares of the network equipment provider’s stock valued at $2,265,000 after acquiring an additional 455 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in Cisco Systems during the first quarter worth about $434,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. This represents a 5.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems 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 in the company, valued at approximately $2,258,974.53. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,615 shares of company stock valued at $682,681 over the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock opened at $57.31 on Tuesday. The firm has a market cap of $228.71 billion, a P/E ratio of 24.60, a P/E/G ratio of 4.76 and a beta of 0.83. The stock’s 50 day simple moving average is $54.35 and its 200 day simple moving average is $49.88. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) 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 company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period last year, the firm posted $0.98 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities research analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.79%. Cisco Systems’s payout ratio is currently 68.67%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CSCO shares. Rosenblatt Securities boosted their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Tigress Financial boosted their price objective 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. Jefferies Financial Group cut 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 note on Thursday, August 15th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Finally, Barclays increased their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

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.