Cisco Systems, Inc. (CSCO) Stake Lowered by Intact Investment Management Inc.

Intact Investment Management Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 52.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,600 shares of the network equipment provider’s stock after selling 11,500 shares during the period. Intact Investment Management Inc.’s holdings in Cisco Systems were worth $356,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Cisco Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after buying an additional 7,411,891 shares in the last quarter. Nordea Investment Management AB grew its position in Cisco Systems by 12.1% during the second quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock worth $982,703,000 after buying an additional 3,384,768 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in Cisco Systems by 11.6% during the second quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock worth $862,949,000 after buying an additional 2,863,474 shares in the last quarter. LSV Asset Management grew its position in Cisco Systems by 0.5% during the second quarter. LSV Asset Management now owns 27,453,460 shares of the network equipment provider’s stock worth $859,293,000 after buying an additional 134,162 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Cisco Systems by 2.4% during the second quarter. Legal & General Group Plc now owns 26,334,633 shares of the network equipment provider’s stock worth $824,310,000 after buying an additional 618,346 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

Cisco Systems, Inc. (NASDAQ:CSCO) opened at $38.99 on Friday. Cisco Systems, Inc. has a one year low of $29.80 and a one year high of $39.54. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. The stock has a market cap of $193,641.67, a P/E ratio of 20.20, a PEG ratio of 3.54 and a beta of 1.20.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The company had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. Cisco Systems’s quarterly revenue was down 1.7% compared to the same quarter last year. sell-side analysts forecast that Cisco Systems, Inc. will post 2.21 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, January 4th. Cisco Systems’s dividend payout ratio (DPR) is currently 60.10%.

In related news, Director Roderick C. Mcgeary sold 15,230 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total value of $578,740.00. Following the completion of the transaction, the director now owns 113,154 shares in the company, valued at approximately $4,299,852. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rebecca Jacoby sold 75,021 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the transaction, the senior vice president now owns 257,476 shares of the company’s stock, valued at approximately $9,892,227.92. The disclosure for this sale can be found here. Insiders sold 348,643 shares of company stock valued at $12,892,271 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently weighed in on the company. Jefferies Group lifted their target price on Cisco Systems to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 16th. Deutsche Bank reissued 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. Bank of America lifted their target price on Cisco Systems from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, November 16th. Stifel Nicolaus reaffirmed a “hold” rating and set a $40.00 price objective on shares of Cisco Systems in a report on Thursday, December 14th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $38.00 price objective on shares of Cisco Systems in a report on Monday, September 11th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the company. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $37.35.

WARNING: “Cisco Systems, Inc. (CSCO) Stake Lowered by Intact Investment Management Inc.” was first published by Transcript Daily and is the property of of Transcript Daily. If you are reading this article on another domain, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this article can be read at https://transcriptdaily.com/2018/01/05/cisco-systems-inc-csco-stake-lowered-by-intact-investment-management-inc.html.

About Cisco Systems

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).

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply