Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 311,588 shares of the network equipment provider’s stock after selling 6,542 shares during the quarter. Cisco Systems comprises 1.4% of Marco Investment Management LLC’s investment portfolio, making the stock its 23rd biggest position. Marco Investment Management LLC’s holdings in Cisco Systems were worth $16,583,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Summit Securities Group LLC acquired a new position in Cisco Systems during the second quarter worth about $25,000. Quarry LP boosted its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its position in 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 during the last quarter. Hobbs Group Advisors LLC acquired a new position in Cisco Systems during the second quarter worth about $36,000. Finally, Iron Horse Wealth Management LLC boosted its position in Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after acquiring an additional 766 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 342,858 shares of company stock valued at $19,661,157. Insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO opened at $58.55 on Friday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38. The firm’s 50 day moving average price is $55.02 and its 200 day moving average price is $50.15. The company has a market cap of $233.19 billion, a P/E ratio of 25.13, a PEG ratio of 4.28 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the prior year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, research analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share 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. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Barclays boosted their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Citigroup boosted their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, UBS Group boosted their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

About Cisco Systems

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.