D.B. Root & Company LLC Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

D.B. Root & Company LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,906 shares of the network equipment provider’s stock after selling 2,850 shares during the quarter. D.B. Root & Company LLC’s holdings in Cisco Systems were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its position in shares of Cisco Systems by 226.9% in the first 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 period. VitalStone Financial LLC raised its position in shares of Cisco Systems by 84.4% in the first quarter. VitalStone Financial LLC now owns 1,593 shares of the network equipment provider’s stock valued at $79,000 after purchasing an additional 729 shares during the period. Empirical Finance LLC raised its position in shares of Cisco Systems by 3.4% in the first quarter. Empirical Finance LLC now owns 149,733 shares of the network equipment provider’s stock valued at $7,473,000 after purchasing an additional 4,913 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Cisco Systems by 13.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 585,815 shares of the network equipment provider’s stock valued at $29,238,000 after purchasing an additional 69,208 shares during the period. Finally, Stokes Family Office LLC raised its position in shares of Cisco Systems by 6.7% in the first quarter. Stokes Family Office LLC now owns 53,018 shares of the network equipment provider’s stock valued at $2,646,000 after purchasing an additional 3,328 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $57.87 on Thursday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $58.08. The stock has a market capitalization of $230.94 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 4.60 and a beta of 0.83. The company has a fifty day moving average of $53.00 and a 200-day moving average of $49.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.76%. Cisco Systems’s payout ratio is currently 62.99%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Cisco Systems news, CFO Richard Scott Herren sold 22,309 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the transaction, the chief financial officer now directly owns 293,184 shares in the company, valued at approximately $14,659,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 in the last quarter. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Tigress Financial upped their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Jefferies Financial Group decreased their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. Finally, HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.74.

Cisco Systems 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.