D.A. Davidson & CO. Sells 1,904 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

D.A. Davidson & CO. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 491,422 shares of the network equipment provider’s stock after selling 1,904 shares during the period. D.A. Davidson & CO.’s holdings in Cisco Systems were worth $26,154,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in shares of Cisco Systems during the 2nd quarter valued at about $25,000. Quarry LP lifted its position in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC lifted its position in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the 2nd quarter valued at approximately $36,000. Finally, Iron Horse Wealth Management LLC grew its holdings in Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after buying an additional 766 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $58.74 on Tuesday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $233.95 billion, a P/E ratio of 25.21, a P/E/G ratio of 4.37 and a beta of 0.83. The business’s 50 day moving average price is $55.17 and its 200 day moving average price is $50.24.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This represents a 6.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $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 342,858 shares of company stock worth $19,661,157 over the last quarter. 0.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on CSCO shares. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Citigroup boosted their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Rosenblatt Securities raised their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note 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 research report on Thursday, August 15th. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.