Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Lessened by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 24.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541,026 shares of the network equipment provider’s stock after selling 178,153 shares during the period. Manning & Napier Advisors LLC’s holdings in Cisco Systems were worth $32,029,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. VanderPol Investments L.L.C. bought a new position in shares of Cisco Systems during the 4th quarter valued at about $226,000. Allen Capital Group LLC grew its position in Cisco Systems by 6.5% in the fourth quarter. Allen Capital Group LLC now owns 86,607 shares of the network equipment provider’s stock worth $5,127,000 after buying an additional 5,285 shares during the last quarter. Masso Torrence Wealth Management Inc. grew its position in Cisco Systems by 3.7% in the fourth quarter. Masso Torrence Wealth Management Inc. now owns 8,313 shares of the network equipment provider’s stock worth $492,000 after buying an additional 294 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Cisco Systems by 3.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,021,801 shares of the network equipment provider’s stock worth $238,091,000 after buying an additional 144,803 shares during the last quarter. Finally, Twelve Points Wealth Management LLC raised its position in shares of Cisco Systems by 12.7% during the fourth quarter. Twelve Points Wealth Management LLC now owns 50,493 shares of the network equipment provider’s stock worth $2,989,000 after purchasing an additional 5,702 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock traded up $0.57 during mid-day trading on Wednesday, reaching $60.00. The company’s stock had a trading volume of 2,295,378 shares, compared to its average volume of 18,320,457. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $62.31. The company has a market cap of $238.95 billion, a P/E ratio of 25.76, a PEG ratio of 4.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm’s 50-day moving average is $59.30 and its two-hundred day moving average is $54.32.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share. On average, research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CSCO shares. Wells Fargo & Company raised their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Morgan Stanley lifted their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Finally, Tigress Financial lifted their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.72.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction 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 completion of the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 in the last 90 days. 0.01% of the stock is owned by corporate insiders.

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.