STF Management LP Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

STF Management LP cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,067 shares of the network equipment provider’s stock after selling 7,495 shares during the quarter. Cisco Systems accounts for 1.4% of STF Management LP’s investment portfolio, making the stock its 18th largest position. STF Management LP’s holdings in Cisco Systems were worth $3,037,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CSCO. China Universal Asset Management Co. Ltd. lifted its stake in shares of Cisco Systems by 226.9% in the 1st 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 during the last quarter. EntryPoint Capital LLC increased its holdings in shares of Cisco Systems by 67.1% in the 1st quarter. EntryPoint Capital LLC now owns 1,452 shares of the network equipment provider’s stock valued at $72,000 after acquiring an additional 583 shares during the last quarter. Guardian Capital Advisors LP increased its holdings in shares of Cisco Systems by 9.0% in the 1st quarter. Guardian Capital Advisors LP now owns 7,067 shares of the network equipment provider’s stock valued at $338,000 after acquiring an additional 582 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Cisco Systems by 87.8% during the 1st quarter. 1832 Asset Management L.P. now owns 153,514 shares of the network equipment provider’s stock worth $7,662,000 after buying an additional 71,783 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC grew its stake in Cisco Systems by 7.7% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 48,474 shares of the network equipment provider’s stock worth $2,419,000 after buying an additional 3,466 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Cisco Systems stock opened at $57.59 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a fifty day moving average of $54.84 and a two-hundred day moving average of $50.05. The company has a market capitalization of $229.81 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 4.63 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 342,858 shares of company stock valued at $19,661,157 over the last quarter. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CSCO shares. UBS Group increased their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Morgan Stanley increased their price objective on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, Jefferies Financial Group decreased their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.