Cisco Systems, Inc. (CSCO) Stake Lessened by Davis R M Inc.

Davis R M Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,479 shares of the network equipment provider’s stock after selling 3,194 shares during the period. Davis R M Inc.’s holdings in Cisco Systems were worth $756,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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. Nordea Investment Management AB lifted its position in Cisco Systems by 12.1% in 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 acquiring an additional 3,384,768 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in Cisco Systems by 11.6% in the second quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock valued at $862,949,000 after acquiring an additional 2,863,474 shares during the last quarter. LSV Asset Management lifted its position in Cisco Systems by 0.5% in the second quarter. LSV Asset Management now owns 27,453,460 shares of the network equipment provider’s stock valued at $859,293,000 after acquiring an additional 134,162 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Cisco Systems by 2.4% in the second quarter. Legal & General Group Plc now owns 26,334,633 shares of the network equipment provider’s stock valued at $824,310,000 after acquiring an additional 618,346 shares during the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $38.56 on Thursday. Cisco Systems, Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $38.99. The stock has a market cap of $190,630.00, a PE ratio of 19.98, a price-to-earnings-growth ratio of 3.49 and a beta of 1.19. 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 (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The company had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. equities research analysts expect that Cisco Systems, Inc. will post 2.21 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Thursday, January 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 60.10%.

CSCO has been the subject of a number of research reports. Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price target for the company. in a research report on Wednesday, August 30th. Credit Suisse Group reissued an “outperform” rating on shares of Cisco Systems in a research report on Thursday, August 31st. Deutsche Bank reissued a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a research report on Wednesday, September 6th. KeyCorp reaffirmed a “buy” rating on shares of Cisco Systems in a report on Friday, September 8th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $38.00 target price on shares of Cisco Systems in a report on Monday, September 11th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-one have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $37.17.

In related news, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the transaction, the insider now owns 712,736 shares of the company’s stock, valued at $26,014,864. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Karen Walker sold 5,786 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $211,131.14. Following the transaction, 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 sold 348,643 shares of company stock worth $12,892,271 in the last ninety days. Insiders own 0.05% of the company’s stock.

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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)

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