Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,619,212 shares of the network equipment provider’s stock after selling 128,033 shares during the period. Massachusetts Financial Services Co. MA owned 0.09% of Cisco Systems worth $196,994,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. Evolution Wealth Advisors LLC lifted its stake in Cisco Systems by 143.9% during the third quarter. Evolution Wealth Advisors LLC now owns 517 shares of the network equipment provider’s stock worth $28,000 after purchasing an additional 305 shares in the last quarter. Lion Street Advisors LLC acquired a new position in Cisco Systems during the second quarter worth $32,000. Selective Wealth Management Inc. lifted its stake in Cisco Systems by 244.8% during the third quarter. Selective Wealth Management Inc. now owns 669 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 475 shares in the last quarter. Activest Wealth Management lifted its stake in Cisco Systems by 77.8% during the third quarter. Activest Wealth Management now owns 672 shares of the network equipment provider’s stock worth $37,000 after purchasing an additional 294 shares in the last quarter. Finally, Tower View Investment Management & Research LLC acquired a new position in Cisco Systems during the third quarter worth $54,000. Hedge funds and other institutional investors own 71.71% of the company’s stock.

In other Cisco Systems news, SVP Prat Bhatt sold 468 shares of the firm’s stock in a transaction dated Tuesday, December 14th. The stock was sold at an average price of $58.34, for a total transaction of $27,303.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 162,959 shares of the stock in a transaction dated Wednesday, November 24th. The stock was sold at an average price of $55.45, for a total transaction of $9,036,076.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,149 shares of company stock worth $9,760,545. Corporate insiders own 0.02% of the company’s stock.

A number of research firms have commented on CSCO. Westpark Capital began coverage on Cisco Systems in a research note on Friday, September 24th. They set a “hold” rating and a $62.00 price target on the stock. Credit Suisse Group reduced their price objective on Cisco Systems from $74.00 to $73.00 and set an “outperform” rating on the stock in a research note on Thursday, November 18th. Erste Group upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, December 9th. MKM Partners increased their price objective on Cisco Systems from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, September 20th. Finally, Morgan Stanley increased their price objective on Cisco Systems from $59.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 15th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.94.

NASDAQ:CSCO opened at $61.36 on Friday. The firm has a market capitalization of $258.79 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 3.09 and a beta of 0.96. The business’s fifty day moving average price is $58.89 and its 200 day moving average price is $56.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.62 and a quick ratio of 1.54. Cisco Systems, Inc. has a 12 month low of $44.15 and a 12 month high of $64.29.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Tuesday, November 16th. The network equipment provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.02. The company had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.98 billion. Cisco Systems had a return on equity of 30.59% and a net margin of 22.44%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 26th. Shareholders of record on Wednesday, January 5th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Tuesday, January 4th. Cisco Systems’s payout ratio is 55.02%.

Cisco Systems Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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

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