Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 672,250 shares of the network equipment provider’s stock after selling 103,309 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Cisco Systems were worth $35,777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Davis Capital Management increased its position in Cisco Systems by 2.3% during the 2nd quarter. Davis Capital Management now owns 32,983 shares of the network equipment provider’s stock worth $1,567,000 after purchasing an additional 738 shares in the last quarter. GAMMA Investing LLC lifted its stake in Cisco Systems by 12.4% during the second quarter. GAMMA Investing LLC now owns 69,138 shares of the network equipment provider’s stock worth $3,285,000 after purchasing an additional 7,636 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Cisco Systems by 3.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 534,333 shares of the network equipment provider’s stock worth $25,386,000 after buying an additional 15,682 shares during the period. HBW Advisory Services LLC increased its holdings in shares of Cisco Systems by 4.6% during the second quarter. HBW Advisory Services LLC now owns 7,769 shares of the network equipment provider’s stock valued at $369,000 after purchasing an additional 341 shares during the period. Finally, Stokes Family Office LLC increased its holdings in shares of Cisco Systems by 0.4% during the second quarter. Stokes Family Office LLC now owns 53,249 shares of the network equipment provider’s stock valued at $2,530,000 after purchasing an additional 231 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CSCO shares. Jefferies Financial Group decreased their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Morgan Stanley raised their target price on Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, UBS Group raised their target price on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $59.94.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 171,744 shares of the 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 sale, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 339,479 shares of company stock worth $19,490,991 in the last quarter. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $59.21 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.87. The firm has a 50 day moving average of $55.83 and a 200-day moving average of $50.52. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $235.82 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 4.42 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

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.