Northpointe Capital LLC Sells 8,810 Shares of Cisco Systems, Inc. (CSCO)

Northpointe Capital LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,911 shares of the network equipment provider’s stock after selling 8,810 shares during the period. Northpointe Capital LLC’s holdings in Cisco Systems were worth $4,537,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CSCO. Vanguard Group Inc. grew its position in Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after acquiring an additional 7,411,891 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Cisco Systems by 54.2% during the second quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock valued at $449,544,000 after purchasing an additional 5,049,326 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Cisco Systems by 51.1% during the second quarter. Janus Henderson Group PLC now owns 13,528,059 shares of the network equipment provider’s stock valued at $423,475,000 after purchasing an additional 4,577,831 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Cisco Systems by 36.1% during the second quarter. Parametric Portfolio Associates LLC now owns 13,415,432 shares of the network equipment provider’s stock valued at $419,903,000 after purchasing an additional 3,559,275 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Cisco Systems by 12.1% during the second quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock valued at $982,703,000 after purchasing an additional 3,384,768 shares in the last quarter. Hedge funds and other institutional investors own 75.55% of the company’s stock.

CSCO has been the topic of a number of recent research reports. Vetr lowered Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $36.12 price target on the stock. in a research note on Wednesday, September 13th. Robert W. Baird reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a research note on Monday, September 11th. KeyCorp reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Friday, September 8th. Deutsche Bank reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a research note on Wednesday, September 6th. Finally, ValuEngine raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $37.10.

Cisco Systems, Inc. (CSCO) opened at $38.55 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81. Cisco Systems, Inc. has a 1 year low of $29.80 and a 1 year high of $38.99. The firm has a market capitalization of $190,477.75, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 3.48 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The business had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. equities analysts expect that Cisco Systems, Inc. will post 2.21 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.01%. Cisco Systems’s dividend payout ratio is presently 60.10%.

In related news, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the sale, the senior vice president now owns 257,476 shares of the company’s stock, valued at approximately $9,892,227.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Karen Walker sold 5,786 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $211,131.14. Following the sale, the senior vice president now directly owns 176,418 shares in the company, valued at approximately $6,437,492.82. The disclosure for this sale can be found here. Insiders have sold a total of 348,643 shares of company stock worth $12,892,271 in the last ninety days. Insiders own 0.05% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Northpointe Capital LLC Sells 8,810 Shares of Cisco Systems, Inc. (CSCO)” was first published by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The original version of this news story can be viewed at https://www.com-unik.info/2017/12/25/northpointe-capital-llc-sells-8810-shares-of-cisco-systems-inc-csco.html.

Cisco Systems Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit