Pillar Pacific Capital Management LLC Reduces Stake in Cisco Systems, Inc. (CSCO)

Pillar Pacific Capital Management LLC lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 220,548 shares of the network equipment provider’s stock after selling 2,145 shares during the period. Pillar Pacific Capital Management LLC’s holdings in Cisco Systems were worth $7,416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Meridian Wealth Management LLC bought a new stake in shares of Cisco Systems in the 1st quarter worth $243,000. Farmers National Bank raised its stake in shares of Cisco Systems by 1.3% in the 1st quarter. Farmers National Bank now owns 6,344 shares of the network equipment provider’s stock worth $201,000 after buying an additional 83 shares in the last quarter. Polianta Ltd bought a new stake in shares of Cisco Systems in the 2nd quarter worth $1,017,000. Bath Savings Trust Co raised its stake in shares of Cisco Systems by 18.2% in the 2nd quarter. Bath Savings Trust Co now owns 24,374 shares of the network equipment provider’s stock worth $763,000 after buying an additional 3,755 shares in the last quarter. Finally, McQueen Ball & Associates Inc. raised its stake in shares of Cisco Systems by 1.7% in the 2nd quarter. McQueen Ball & Associates Inc. now owns 66,779 shares of the network equipment provider’s stock worth $2,090,000 after buying an additional 1,085 shares in the last quarter. 75.55% of the stock is currently owned by institutional investors.

Cisco Systems, Inc. (NASDAQ:CSCO) opened at $39.91 on Thursday. Cisco Systems, Inc. has a twelve month low of $29.80 and a twelve month high of $40.24. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $197,300.00, a price-to-earnings ratio of 20.68, a PEG ratio of 3.57 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $12.11 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. Cisco Systems’s revenue for the quarter was down 1.7% compared to the same quarter last year. 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. Stockholders of record on Friday, January 5th will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.91%. Cisco Systems’s dividend payout ratio is 60.10%.

In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the transaction, the insider now owns 712,736 shares in the company, valued at $26,014,864. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Karen Walker sold 5,786 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $211,131.14. Following the completion of the transaction, the senior vice president now 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 348,643 shares of company stock worth $12,892,271 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

CSCO has been the topic of a number of recent analyst reports. Oppenheimer reaffirmed a “buy” rating and set a $36.00 target price on shares of Cisco Systems in a research report on Tuesday, October 31st. Vetr lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $35.78 target price on the stock. in a research report on Friday, November 17th. Cowen reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Friday, November 17th. Deutsche Bank reaffirmed a “buy” rating and set a $45.00 target price (up from $40.00) on shares of Cisco Systems in a research report on Thursday, November 16th. Finally, Royal Bank of Canada boosted their target price on Cisco Systems to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $37.93.

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Cisco Systems Company 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).

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

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