Douglass Winthrop Advisors LLC Reduces Stake in Cisco Systems, Inc. (CSCO)

Douglass Winthrop Advisors LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 20.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,665 shares of the network equipment provider’s stock after selling 5,000 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Cisco Systems were worth $846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in Cisco Systems by 1.1% during the first quarter. BlackRock Inc. now owns 339,004,547 shares of the network equipment provider’s stock worth $14,539,904,000 after buying an additional 3,630,488 shares during the last quarter. Boston Partners increased its position in Cisco Systems by 0.4% during the first quarter. Boston Partners now owns 33,948,505 shares of the network equipment provider’s stock worth $1,456,051,000 after buying an additional 149,272 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in Cisco Systems by 6.7% during the fourth quarter. TIAA CREF Investment Management LLC now owns 29,601,283 shares of the network equipment provider’s stock worth $1,133,729,000 after buying an additional 1,853,106 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Cisco Systems by 3.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 24,477,618 shares of the network equipment provider’s stock worth $1,049,845,000 after buying an additional 816,698 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Cisco Systems by 3.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 18,289,036 shares of the network equipment provider’s stock worth $784,417,000 after buying an additional 526,547 shares during the last quarter. 71.39% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ CSCO opened at $48.41 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 2.22. Cisco Systems, Inc. has a twelve month low of $33.17 and a twelve month high of $49.06. The stock has a market capitalization of $233.36 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.86 and a beta of 1.06.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same quarter last year, the company earned $0.61 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. sell-side analysts anticipate that Cisco Systems, Inc. will post 2.67 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Friday, October 5th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Thursday, October 4th. Cisco Systems’s payout ratio is presently 56.41%.

In related news, EVP David Goeckeler sold 63,050 shares of the stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $47.57, for a total value of $2,999,288.50. Following the completion of the sale, the executive vice president now owns 547,019 shares in the company, valued at $26,021,693.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark D. Chandler sold 31,842 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $47.20, for a total transaction of $1,502,942.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 450,620 shares of company stock valued at $21,322,282. 0.05% of the stock is owned by corporate insiders.

Several equities analysts have commented on CSCO shares. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Tuesday, July 17th. JPMorgan Chase & Co. set a $59.00 price target on Cisco Systems and gave the company a “buy” rating in a research report on Thursday, August 16th. Morgan Stanley lowered their price target on Cisco Systems from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, July 19th. BidaskClub raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, July 3rd. Finally, Piper Jaffray Companies set a $50.00 price target on Cisco Systems and gave the company a “buy” rating in a research report on Tuesday, September 11th. Nine research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $48.37.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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