Rockefeller Capital Management L.P. Sells 10,264 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Rockefeller Capital Management L.P. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,684,865 shares of the network equipment provider’s stock after selling 10,264 shares during the period. Rockefeller Capital Management L.P.’s holdings in Cisco Systems were worth $89,653,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CSCO. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the second quarter valued at approximately $25,000. Quarry LP grew its stake in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC lifted its position in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems in the second quarter worth $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Cisco Systems in the third quarter valued at $40,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CSCO shares. Citigroup upped their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Tigress Financial lifted their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Cisco Systems Trading Down 0.5 %

NASDAQ CSCO opened at $59.29 on Friday. The stock’s fifty day moving average price is $55.68 and its 200-day moving average price is $50.45. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a market cap of $236.14 billion, a P/E ratio of 25.45, a P/E/G ratio of 4.42 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. Cisco Systems’s payout ratio is currently 68.67%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 339,479 shares of company stock valued at $19,490,991. 0.01% of the stock is owned by corporate insiders.

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.